By Richard L. Lackey

ISBN-10: 0071402500

ISBN-13: 9780071402507

What Wall highway professionals particularly say at the back of closed doorways

Investor habit is pushed through recognized "truths" which frequently have little foundation in truth, are typically misapplied and misunderstood by means of agents and traders, and will negatively impression long term funding functionality.

Cashing In on Wall Street's Ten maximum Myths examines the main famous of those, telling traders that are nonsense whereas uncovering middle ideas that experience regularly supplied the most secure route to construction wealth.

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Extra info for Cashing in on Wall Street's 10 Greatest Myths

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What we can say with certainty is that it takes more of an effort to time markets than to buy and hold. Investors who do not have the time or resources to continually assess market indicators and make changes quickly and inexpensively are generally better off hiring a manager with the time and resources. I skate to where the puck is going to be, not where it has been. That makes all the difference. —WAYNE GRETZKY TREND FOLLOWING: Momentum investors often use the saying “The trend is your friend” to elucidate the concept of trend following.

Standards and even training focus on products to recommend to clients. The standard approach generally includes some mix of stocks, bonds, and mutual funds. Adjustments to the portfolio typically involve moving dollars from one asset class to another. Investors who have watched the veritable ruination of their retirement funds were not given a complete plan. They were never given an exit strategy. Why? Because their brokers and financial advisers never had one and couldn’t find anything else that was Equity Curve Negative $1,400 $1,200 Monthly VAMI $1,000 $800 $600 $400 $200 EXHIBIT 1-6 Sept 2003 Mar 2003 Sept 2002 Mar 2002 Sept 2001 Mar 2001 Sept 2000 Mar 2000 Sept 1999 Mar 1999 Sept 1998 Mar 1998 Sept 1997 Mar 1997 Sept 1996 $0 12 CASHING IN ON WALL STREET’S TEN GREATEST MYTHS doing any better; and their mutual funds would charge large exit fees if they did not stay invested.

Moreover, the probability for success in each particular issue is difficult to measure. Stop losses regularly shake intrepid investors out of their positions, but the occasional high flyer can provide performance for the group that overshadows the many stagnant stocks. The key to profitable investing using one of these strategies is diversification and risk management. The more that assets are spread across strong prospects, the better; and the methods for limiting exposure and cultivating profits will determine the degree of success.

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