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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

What members say

Average Customer Ratings

Overall

  • 4.3 out of 5.0
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Story

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  • JT
  • Ontario, Canada
  • 02-06-14

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. <br/><br/>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.<br/><br/>If you're going to put the words 'UNABRIDGED' on an audiobook, don't remove anything.

20 of 21 people found this review helpful

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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.

16 of 17 people found this review helpful

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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.

5 of 5 people found this review helpful

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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

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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.

3 of 4 people found this review helpful

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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!

7 of 10 people found this review helpful

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  • Paul
  • Canada
  • 04-13-13

Like listening to my own history

Would you recommend this audiobook to a friend? If so, why?

This book gives a great perspective of a investor just starting out and trying to feel their way through the stock market. Touches on many of the subjects that hamper new and experienced traders, like over-trading, death by commissions, selling winners and letting losers run, and gambling. Nice to know that someone who succeeded made the same mistakes as you along the way.

What did you like best about this story?

The non-wall street type innocence of the Darvas.

5 of 8 people found this review helpful

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it gave me a lot of insight

good information and knowledge about trading. must read for disciplined traders. trading methodology has not changed for the past 50 years

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techno fundamental investment

I recommend this book for all individual investors interested in following certain approach to earn higher profits by self emotionless thinking.

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A sure way to millions

An incredible interest and engaging book that I began listening to yesterday and finished today! I thank everyone who took part in creating this masterpiece.

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  • Mr
  • 10-07-17

Classic investing wisdom that has aged well.

The title is clickbait 60 years before clickbait existed, and parts of the book are definitely period pieces, such as dealing with suspicious Japanese telegraphers who thought his stock symbols might be a sign of espionage. But if you can look past the cheese-ball title, and occasional anachronisms, there is a ton of great advice here.

The learning process he describes, his mistakes, his flawed reasoning and false assumptions will be instantly recognizable to most of us who have tried our hands at being our own fund managers. The solutions he gradually and painfully comes up with for those problems remain relevant, despite a hugely different investing world, because they are based on the human psychology that drives people to make the same mistakes in the 21st century as they made in the 1950s.

I do wish he hadn't put quite so many long lists of trades in however.

Narrator does a good job.

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  • William
  • 07-20-16

Highly recommended investment classics

finish it in no time. great and fun read. Highly recommend anyone interested in trading!

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  • Dale Noble
  • 09-04-15

really enjoyed this title.

this isn't a tutorial or learning material but from his story you can pick up how the markets work and how her tackled it.

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  • lee
  • 06-03-13

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 4 people found this review helpful

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  • Anonymous User
  • 11-03-17

This was an out dated piece of crap

Don’t waste your money
Narrator was very good to put you to sleep when tired

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  • Sitiveni
  • 10-31-17

Brilliant

As a fundamental investor I have learnt to use charts to find price action and volume. I use LEAP options where I can or if buying the underlying stock I use limited leverage with trailing stop losses. The Darvas system is similar to my trading and after reading this book I believe I have learned how to improve my trading but ultimately like Darvas if anyone wants to learn how to invest and trade successfully there is no substitution for live trading with your own money, not dummy accounts.