William J. O’Neil Quotes
Forget the adage buy low and sell high.
Success in a free country is simple. Get a job, get an education, and learn to save and invest wisely. Anyone can do it. You can do it.
If you own a portfolio of stocks, you must learn to sell the worst performers first and keep the best a little longer.
The whole secret to winning and losing in the stock market is to lose the least amount possible when you’re not right.
So the first thing I learned about how to get superior performance is not to buy stocks that are near their lows, but to buy stocks that are coming out of broad bases and beginning to make new highs.
Cashing in small, easy-to-take profits while holding the losers.
My philosophy is that all stocks are bad. There are no good stocks unless they go up in price. If they go down instead, you have to cut your losses fast Letting losses run is the most serious mistake made by most investors.
I’ve never met a successful pessimist.
The majority of unskilled investors stubbornly hold onto their losses when the losses are small and reasonable. They could get out cheaply, but being emotionally involved and human, they keep waiting and hoping until their loss gets much bigger and costs them dearly.
write to Securities Research Company, 27 Wareham Street, #401, Boston, MA 02118, and purchase one of the company’s long-term wall charts. Also, in 2008, Daily Graphs, Inc., created a 1900 to 2008 stock market wall chart that shows major market and economic events.
The market has a simple way of whittling all excessive pride and overblown egos down to size. After all, the whole idea is to be completely objective and recognize what the marketplace is telling you, rather than try to prove that the thing you said or did yesterday or six weeks ago was right. The fastest way to take a bath in the stock market or go broke is to try to prove that you are right and the market is wrong.
Diversification is a hedge for ignorance
90% of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework.
Since the market tends to go in the opposite direction of what the majority of people think, I would say 95% of all these people you hear on TV shows are giving you their personal opinion. And personal opinions are almost always worthless … facts and markets are far more reliable.
Buying large amounts of low-priced stocks rather than smaller amounts of higher-priced stocks.
completely objective and recognize what the marketplace is telling you, rather than trying to prove that what you said or did yesterday or six weeks ago was right. The fastest way to take a bath in the stock market is to try to prove that you are right and the market is wrong. Humility and common sense provide essential balance.