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How I Made $2,000,000 in the Stock Market | [Nicolas Darvas]

How I Made $2,000,000 in the Stock Market

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.
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Publisher's Summary

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

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Performance
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  •  
    Jack 12-01-13
    Jack 12-01-13 Member Since 2010
    HELPFUL VOTES
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    "Great story of Success"

    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.

    14 of 15 people found this review helpful
  •  
    JT Mississauga, Ontario, Canada 02-06-14
    JT Mississauga, Ontario, Canada 02-06-14
    HELPFUL VOTES
    9
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    Story
    "This is not 'UNABRIDGED'"
    What did you like best about How I Made $2,000,000 in the Stock Market? What did you like least?

    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.


    9 of 10 people found this review helpful
  •  
    dylan nicholson 04-28-15 Member Since 2014
    HELPFUL VOTES
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    "I was hoping for more"

    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.

    2 of 2 people found this review helpful
  •  
    wes watson 03-21-14
    wes watson 03-21-14 Member Since 2014
    HELPFUL VOTES
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    Story
    "Good story"
    Any additional comments?

    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.

    1 of 1 people found this review helpful
  •  
    Giovb 01-14-14
    Giovb 01-14-14
    HELPFUL VOTES
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    "Outdated with examples that are not pertinent."
    What would have made How I Made $2,000,000 in the Stock Market better?

    Concrete examples.


    Has How I Made $2,000,000 in the Stock Market turned you off from other books in this genre?

    Yes, since this book was published too long time ago, it doesn't reflect todays reality.


    Who would you have cast as narrator instead of Jason McCoy?

    Jason McCoy was fine.


    1 of 1 people found this review helpful
  •  
    Dimitry Ioffe 10-09-13
    HELPFUL VOTES
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    Story
    "Don't Do It!"
    What could have made this a 4 or 5-star listening experience for you?

    The author was too granular. There is no need to spend 1/3 of the book describing his individual trades, executing prices etc. Painful!


    What do you think your next listen will be?

    Not sure.


    Which character – as performed by Jason McCoy – was your favorite?

    There are no characters in this book.


    If you could play editor, what scene or scenes would you have cut from How I Made $2,000,000 in the Stock Market?

    The author was too granular. There is no need to spend 1/3 of the book describing his individual trades, executing prices etc. Painful!


    Any additional comments?

    The total listening time of this book is about 3.5 hrs. The author spends 1/3 of his time discussing the granular dimensions of his trades. Its a very painful read. An example would be while attempting to describe how he lost money using a specific tactic, instead of saying: This tactic lost me $4000.00, he says: Bought IBM $100. Sold IBM 97, Bought ABX $22., Sold ABX 17.....and he will literally describe 20 trades in the exact same way. He does this throughout the entire book. It almost feels like filler. He has nothing pertinent to say so he lengthens the discussing to fill up pages. In his defense, there are a few good lessons here but by the time you get to them you'll be so frustrated because of how long winded the author is you'll be forced to rewind. Not worth the money spent!

    4 of 7 people found this review helpful
  •  
    Amazon Customer Kansas City, Ks 05-11-15
    Amazon Customer Kansas City, Ks 05-11-15 Member Since 2013
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    "Good Hear! I recommend highly!"

    You will gain some financial principles and protections by listen to this book. Worth reading.

    0 of 0 people found this review helpful
  •  
    Alejandro Sanchez 04-21-15 Member Since 2013
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    "Great book"

    This book gave me an insight about the phycology of trading. Vargas payed a lot of dues but finally masters himself.

    0 of 0 people found this review helpful
  •  
    Pedro 04-14-15
    Pedro 04-14-15 Member Since 2015
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    "Very good listen"

    A great listen, listen to which approach worked and which failed, will make a difference at any time period. Can be replicated.

    0 of 0 people found this review helpful
  •  
    Dennis Wimauma, FL, United States 03-05-15
    Dennis Wimauma, FL, United States 03-05-15 Member Since 2011
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    7
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    "My favorite stock market book"

    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.

    0 of 0 people found this review helpful
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  • henry fitzsimons
    BELFAST, Co Antrim, GB
    2/10/15
    Overall
    Performance
    Story
    "great read"

    thanks to Mr Darvis for a great book well worth the reading inspirational and lots of great detail and a fantastic methodology.

    0 of 0 people found this review helpful
  • lee
    Midlothian, United Kingdom
    6/3/13
    Overall
    Performance
    Story
    "easybell co uk trade for cash"

    loved this book worked for me trade for cash easybell co uk recommend this book great storie lines

    0 of 3 people found this review helpful

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