Hungarian by birth, Nicolas Darvas trained as an economist at the University of Budapest. Reluctant to remain in Hungary until either the Nazis or the Soviets took over, he fled at the age of 23 with a forged exit visa and fifty pounds sterling to stave off hunger in Istanbul, Turkey. During his off hours as a dancer, he read some 200 books on the market and the great speculators, spending as much as eight hours a day studying.
Darvas invested his money into a couple of stocks that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a large profit. His main source of stock selection was Barron's Magazine. At the age of 39, after accumulating his fortune, Darvas documented his techniques in the book, How I Made 2,000,000 in the Stock Market. The book describes his unique "Box System", which he used to buy and sell stocks. Darvas' book remains a classic stock market text to this day.
©2012 BN Publishing (P)2012 BN Publishing
The story and the reading of the story are fine. However, there are paragraphs omitted, even pages in some areas. This, at least to me anyway, is not what 'UNABRIDGED' means.
I found that some of the abridged paragraphs contained interesting insights from the author and not something that I would have skimmed over if I were actually reading the printed version.
If you're going to put the words 'UNABRIDGED' on an audiobook, don't remove anything.
I really enjoyed listening to Nicolas's story. A bit of luck launched his investing career. Repeated failures almost ended it. Determination, self examination, and lots of hard work led to eventual success and a repeatable method to consistently make money in stocks.
As I listened to the story, I could see elements of Reminiscences of a Stock Operator by Edwin Lefevre, Market Wizards by Jack Schwager, Rule #1 by Phil Town and How to Make Money in Stocks by William O’Neil. What Nicolas discovered was that to make money in stocks, he needed to 1) find the right company and put it on a watch list; 2) wait for the stock price to start moving up before buying in; 3) always protect the downside by placing a protective stop, 4) sell losers and keep winners; and 5) sell when the price stops going up.
Nicolas's “box” method is very close to the Turtle trading method. It can work spectacularly well, but it does require discipline. He made money as long as he remained disciplined. He lost money when he failed to be disciplined. Excellent story, great message, I highly recommend this listen.
this is a story about a man just getting into the stock market with $3000 and with a creative strategy, a lot of trading and a bit of luck managed to make 2M in 6.5 years. inspiring in that this man knew what he wanted to do and practiced every day to master this skill but also annoying that this book is made up 70% of the author listing off the stock trades he made.
the method that he uses is only breifly described in comparison to the rest of the content (listing off stock trades) which was what brought me to this book in the first place. I should also mention that the story in this book is based on his trading in the mid 1950s.
overall I am just interested enough about this method to check out his website but I am very disappointed that he did not cover his stock picking strategy in more detail.
The story is good, it helps you understand the thoughts and progressions one goes through while developing a profitable market strategy. Although I feel he did do good selecting his stocks, I would say that luck did play a good part as they say when he had a hunch he bet a bunch as opposed to todays recommendations of risk management, so it would be hard to reproduce similar results unless your willing to throw the majority of you funds in just a few positions. Worth the listen still.
Yes, since this book was published too long time ago, it doesn't reflect todays reality.
Jason McCoy was fine.
Very simple strategy yet it is apparent by some
that the author put a tremendous amount of study into the market to pick his stocks. He also made a killing on Thiacol Chemical and Bruce.
thanks to Mr Darvis for a great book well worth the reading inspirational and lots of great detail and a fantastic methodology.
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loved this book worked for me trade for cash easybell co uk recommend this book great storie lines
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