Schwager. Market wizards.

  • Steinhardt “when are we going to get something that is going to surprise the world.” Anyone who thinks he can formulate success in this racket is deluding himself because it changes too quickly. As soon as a formula is right for any length of time it’s own success carries the weight of its inevitable failure
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  • William o Neal. Canslim. Current earnings per share growth. 5 year growth cagr. New (products, services, highs). Leader or laggard. Institutional ownership. Market.
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  • David Ryan. RS, long term eps vs recent. Industry RS. New products. Share counts. Opportunity for growing institutional ownership. Price base. Has it doubled? Might double again. “So a stock which is at new highs has much more of an open running field? Right, because no one ahead of you is at a loss and wants to get out at the first opportunity. Everybody has a profit, everybody is happy” volumes doubling on highs = a lot of new buyers. Consolidation on lower volumes. Volumes picking up = potential move. “I think if you love what you are doing you are going to be a lot more successful.”.
  • Marty Schwartz. By mid 1978 I was a securities analyst for 8 years and it had become intolerable. I always knew I wanted to work for myself have no clients and answer to no one. To me that was the ultimate goal. “Why wasn’t I doing well when I was groomed to be successful?” I decided it was now time to be successful. “One of the most suicidal things you can do in trading is to keep adding to a losing position.
  • Paul Tudor Jones. Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do you are dead. Prices move first, fundamentals 2nd. Don’t focus on making money. Focus on protecting what you have.
  • Van Karp. Cut your losses. Let your winners run.