Wall Street: The Other Las Vegas

The following is a book review by Stephen Burns.

I spent $150 on Wall Street: The Other Las Vegas to buy it used before this new version was published, and I have zero regrets about paying a premium to own this book. After reading over 150 books on stock trading and studying many of the greats, in my opinion Nicolas Darvas is one of the greatest stock traders there ever was.� No one that I am aware of has made more money in such a short span of time, while starting with such a limited amount of capital. His starting balance was only $2,000, yet his 1st stock quadrupled in a few months. Within a few years of trial and error, he turned $8,000 into $100,000 then finished out his final 18 months turning that into $2.4 million dollars. (This is about 13 million adjusted for inflation). He then cashed out because of a weak market and the lack of stocks meeting his trading criteria while avoiding the bear market of the early 60′s. On his journey he never lost any of his initial capital, only losing a portion of his previous winnings.

I love this book and his previous one because he gives specifics, including dates and quantity, combine with his exits. His books are bibles for trend followers and momentum traders. In this book he discusses how brokers and tip services make money off each generation of suckers in Wall Street and how to keep from being ripped off. I agree with his point that if your broker or the tip service were so great, they would be following their own advice and making a killing in the market instead of working and selling you services and information for a few dollars. It is very important to be very careful inside the Wall Street casino and not get conned.�This book goes deeper into the details of exactly how to use his techno-fundamentalist system.

His varying methods of stock investment:

TECHNICAL