I'll Make A More Cautious Approach To The US Commodity Market




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The Nicholas Darvas US Commodity Market Success Story (part 7)

I called Lou Keller. I told him who I was and what I wanted from the US commodity market. Next day he sent me some papers to sign, and advised me that as soon as I returned them with a deposit I would have an account with his brokerage firm. When I received his notice something happened to me. Suddenly I began to feel that I was becoming part of the US commodity market scene. I cannot describe Wall Street because I have never been there physically, but even its name had an almost mystical attraction for me.

Everything in the US commodity market was going to be serious and different. I now considered my Canadian induction period as pure crazy gambling that I would never repeat.

As I studied the long gray columns of the US commodity market quotations in the New York papers, I felt I was about to enter a new and successful period in my life. This was not like the wildcat

Canadian market with its quick tip offs on gold strikes and uranium fields. This was responsible business, the street of bank presidents and great industrial combines, and I prepared to enter it with proper reverence.

I intended to make a much more cautious and mature approach to the US commodity market. I added up my assets to see what I had to work with. I had started in the Canadian market with $11,000 - my original BRILUND investment of $3,000 and profit of $8,000. This had been reduced by $5,200 in the fourteen months of my Canadian operations. All I had left of the BRILUND money was $5,800.

This did not seem like enough money with which to approach the US commodity market, so I decided to add to it. From the savings of my show business activities I raised my stake to $10,000. It was a good round figure, and I deposited this sum with the US commodity market broker.

Then one day I decided to start trading in the US commodity market. I rang Lou Keller and nonchalantly, trying to be the old financial hand, simply asked him what was good.

I realize now this inquiry was more suitable for a butcher, but Mr. Keller was equal to it. He suggested several "safe stocks." He also gave me the fundamental reasons why these stocks were "safe." While I did not understand, I listened intently to such explanations as dividend increase, commodity-splits and improved earnings. Now this to me was the highest professional advice. This man earned his living in the US commodity market, so obviously he knew. Besides, he only "suggested." He emphasized that the decision was "up to me." This made me feel important and in command of my US commodity market ventures.

When one or two of the stocks he gave me rose a few points almost immediately, I had no doubt of the excellence of the information I was receiving and my natural ability as a US commodity market operator to act on it. What I did not know was that I was practically smack in the middle of the biggest bull market the world had ever seen and it was quite difficult, unless you were extremely unlucky, not to show a little paper profit from time to time.  

 

This article is actually only a small snippet of Nicolas Darvas' work...

"Discover The Original Method Of Nicolas Darvas... The Young Dancer Turned Investor Who, Within 18 Months, Turned $25,000 Into $2,000,000"

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