“Price tells me what to do, not the other way around…”

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I loved the quote in there from Larry about dyeing the white dresses red, in response to (ADJUST) a new fad of red dresses for brides.

I don’t know if you’ve ever had William O’Neil on your show (IBD) but I know you had David Ryan, his protégé. In O’Neil’s book, How To Make Money In Stocks, he tells a similar story about owning a dress shop. His take was to put the unpopular dresses on sale in order to buy more inventory of the dresses that are selling well. In essence, “cut short your losses, and let your profits run on” which was the crux of your conversation with Larry based on David Ricardo’s “rules.”

While O’Neil’s example is a little different from Larry’s, the message (and wisdom) is the same.

I love your books and podcast – they have really made a difference in my portfolios, how I approach my IRA, and I spend far less time “researching” and worrying about it. Price tells me what to do, not the other way around.

Keep doing what you do…you’ve helped A LOT of people. Those that don’t see the wisdom in your methods can just hope for social security to be their pension. I’m working on being financially independent – not dependent on that uncle of ours to keep the lights on in retirement.

Yours,
David B.

Thanks!

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