Here are three typical stock market investing deals I concluded in the early part of 1954 - deals which convinced me I was a natural at stock market investing. In this I have included commissions and taxes.
You will note that each of these stock market investing transactions netted me just over $400. It was not a large sum, but three profits in a row amounting to $1,333.38 in just a few weeks made me feel that these were smooth, simple operations and I was in control of my stock market investing.
The feeling that I was operating with a profit in stock
market investing, allied to a natural awe of the place, made
me feel foolishly happy. I felt I was losing my Canadian amateur
status and becoming a member of an inner circle. I did not realize
my method of stock market investing had not improved - that I was
simply using more pompous words to cover it. For instance, I no
longer considered the broker's advice as tips, but as "information".
As far as I was concerned, I had given up listening to tips and
instead was receiving authentic news based on valid economic evidence.
The boat sailed happily along. Here are some of my stock market investing transactions during April and May, 1954:
Occasional setbacks did not bother me. I regarded them as slight, inevitable delays in the upward climb towards prosperity. Besides, whenever my stock market investing was successful I praised myself; when I lost, I blamed it on the broker.
I continued stock market investing. I telephoned my broker sometimes twenty times a day. If I did not conduct at least one transaction a day I did not feel I was fulfilling my role stock market investing. If I saw a new stock I wanted to have it. I reached out for fresh stocks like a child for new toys.
These transactions in which I was involved in Wall Street around July 1954 will show the energy I expended for very small returns:
My net profit on these stock market investing transactions was $1.89. The only person who was happy was my broker. According to the New York Stock Exchange rules, his commission on these ten transactions amounted to $236.65. Incidentally, my $1.89 profit did not include the price of my telephone calls.
In spite of this, only one thing really bothered me. Half the words my broker
used concerning stock
market investing I did not understand. I did not like to show
my ignorance, so I decided to read up on the subject. In addition
to the financial columns in the New York daily papers, I began to
read books about stock market investing so I could talk on his level.
article is actually only a small snippet of Nicolas
Original Method Of Nicolas Darvas... The Young Dancer
Turned Investor Who, Within 18 Months, Turned $25,000
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