Please enjoy my monologue Snowflakes Suck with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
In this episode of Trend Following Radio:
Cognitive Dissonance
Trend Following
“All a company report and balance sheet can tell you is the past and the present. They cannot tell future.” – Nicolas Darvas
Please enjoy my monologue “Pas de Dough” with Michael Covel on Trend Following Radio. This episode may also include great outside guests from my archive.
In this episode of Trend Following Radio:
What trend following and dancing have in common
The philosophical foundations of trend following
Stock trading and location independence
Why relying on “fundamentals” is fool’s gold
What being a silent partner in the trend means
Why Darvas’ thinking from 1959 still applies today
The importance of having no ego when it comes to trading
“The only sound reason for my buying a stock is that it is rising in price. If that is happening, no other reason is required. If that is not happening, no other reason is worth considering” —Nicolas Darvas
“Hungarian by birth, Nicolas Darvas trained as an economist at the University of Budapest. Reluctant to remain in Hungary until either the Nazis or the Soviets took over, he fled at the age of 23 with a forged exit visa and fifty pounds sterling to stave off hunger in Istanbul, Turkey. During his off hours as a dancer, he read some 200 books on the market and the great speculators, spending as much as eight hours a day studying. Darvas invested his money into a couple of stocks that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a large profit. His main source of stock selection was Barron’s Magazine. At the age of 39, after accumulating his fortune, Darvas documented his techniques in the book, How I Made 2,000,000 in the Stock Market. The book describes his unique “Box System”, which he used to buy and sell stocks. Darvas’ book remains a classic stock market text to this day.”
How I Made $2,000,000 in the Stock Market by Nicolas DarvasHow I Made $2,000,000 in the Stock Market by Nicolas Darvas
