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Great book on Warren Buffett & Soros by Mark Tier
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bluesky
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09-Jul-2007 09:34
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yes yes should be Guru, Thks Scotty Hi Snoothie, I try to comment a little as I am still "new" in investment (although I already start trading since 1988) diversifying, according to famous master investor in the world, they dont diverify their $$$ to many finanical instrument but concentrate only a few that they are familiar and got passion to it and get the maximum outcome. But most average traders, fund managers, brokers etc will advise their client not to put all the $$ in one bowl, they are not wrong as any major crisis happened like 87 black Monday, 97/98 Asian crisis, 2000 dot.com crisis or 911 etc, the lost will not be severe (depending what you had diversed to...). But if you had purchased a stock that will raise within the usual Stock Cycle (10-12), they don't care the ups and downs but set the exit point or strategy, for e.g in 2003, if you purchase DBS at about $9-$10 and set short-long term target, exit at $22.00 at 2006-07 for some of the DBS shares and the rest for retirement or wait till the next cycle. Perhaps, folks can read the latest best seller books from Adam Khoo that will summarise the US stocks market of Dow, S&P500 etc, very interesting book.... I am only trying my best to extract some of these, by the way, Adam Khoo got great influences from the two famous investment giant Warren and Soros but he put in his own thoughts and write his latest book "Secrets of Millionaire Investors" |
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scotty
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09-Jul-2007 08:14
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Typo on sin 2.... should be spelled Guru right? |
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snoothie
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08-Jul-2007 23:39
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Hi Bluesky, can share more with me on Deadly investment sin 4 - Diversifying. Interesting, i think it means over diversifying? |
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bluesky
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08-Jul-2007 22:08
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Hi all Forum friends, personally I think that "The Winning Investment Habits of Warren Buffett & George Soros" by Mark Tier is a great book, let me extract the 7 seven deadly investment sins as follows: Deadly investment sin 1 - Believing that you have to predict the markets' s next move to make big return Deadly investment sin 2 - The "Gur" belief: If I can't predict the market, there's someone somewhere who can -- and all I need to do is find him Deadly investment sin 3 - Believing that "inside information" is the way to make really big money. Deadly investment sin 4 - Diversifying. Deadly investment sin 5 - Believing that you have to take big risks to make big profit. Deadly investment sin 6 - The "system" belief: somebody, somewhere has developed a system -- some arcane refinement of technical analysis, fundamental analysis, computerised trading, Gann triangles, or even astrology -- that will guarantee investment profilts. Deadly investment sin 7 - Believing that you know what the future will bring -- and being certain that the market must "inevitably" prove you right Hope that we don't fall into one of this sins..... Bluesky |
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