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How To Make Money In Stocks: A Winning System in Good Times or Bad, 3rd Edition 3rd Edition

3.9 out of 5 stars 112 customer reviews
ISBN-13: 978-0071373616
ISBN-10: 0071373616
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Editorial Reviews

From the Back Cover

The bestselling investment system­­updated to help you uncover the best stocks in today's market!

Since 1988, through every type of market, the bestselling How to Make Money in Stocks has shown over 1 million investors the secrets to building stock market wealth. Author William J. O'Neil's powerful CAN SLIM‘ investment modeling system­­based on an exhaustive study of the greatest stock market winners dating back to 1953­­is a straightforward, 7-step process for minimizing risk, maximizing return, and finding stocks that are poised to perform. In addition, this revised and updated third edition provides you with:

  • Expanded coverage of Nasdaq and mutual fund investing
  • Techniques for reading charts, trading on news, and more
  • Strategies to avoid the 19 most common investor mistakes

Praise for previous editions ...

"The most useful stock market book in years."

­­Management Accounting

"In O'Neil's opinion, a stock isn't unlike a car or a set of golf clubs­­you have to pay for quality. A winning system."

­­Personal Investor

"A superb book, spelling out his investment strategies in plain English and O'Neilisms."

­­San Francisco Business

"His very good advice comprises a mixture of three parts common sense and one part technical knowledge."

­­The American Spectator

About the Author

William J. O'Neil is the bestselling author of 24 Essential Lessons for Investment

Success and the founder and chairman of Investor's Business Daily, one of the world's leading financial newspapers. He is internationally regarded as a foremost source of investment research and advice.

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Product Details

  • Paperback: 288 pages
  • Publisher: McGraw-Hill; 3 edition (May 23, 2002)
  • Language: English
  • ISBN-10: 0071373616
  • ISBN-13: 978-0071373616
  • Product Dimensions: 6 x 0.7 x 9 inches
  • Shipping Weight: 14.4 ounces
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (112 customer reviews)
  • Amazon Best Sellers Rank: #570,556 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback
Bill O'Neil is one of Wall Street's most famous investors, mostly because he founded Investor's Business Daily. In this book he outlines his trading system, called "CANSLIM," and details how he has used it for years to capture enormous moves in the stock market from stocks that are about to take off and become the next big thing. To give you an idea of the kind of stocks O'Neil prides himself on finding, his past hits include Microsoft, Home Depot, and Amazon.

O'Neil's strategy is based on both technical and fundamental analysis, though the technical aspect receives much more space in the book. In fact technical analysis (meaning the reading of charts, volume, oscillators, etc) is so essential in O'Neil's investing that he recommends not buying a stock with a bad chart, regardless of how good the fundamentals may be. The first section of the book details the points of fundamental analysis (again, he uses the acronym CANSLIM)-earnings growth, industry leadership, and market direction among others. The next section deals with technicals and charting, and the last section offers some general advice and a look at successful investors of the past.

The methodology here is sound. When you buy stocks with the solid fundamentals O'Neil demands (which are not easy to come by) you get stocks with enormous growth potential. These are often the industry's next super-stocks, and he tries to get in them right before they take off. Because of this you can safely buy a stock with a high P/E multiple (which many fundamentalists recommend against) or one that just broke its 52 week high, and you can do this because the underlying fundamentals of the company are so incredibly strong as to ensure further momentum.
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Format: Paperback Verified Purchase
I bought this book last year and subscribed to IBD after reading the book. The author gives some good pointers on identifying companies with superior growth numbers using his CANSLIM method. However the book is very vague on chart reading which by the way is what the whole book is about. For example, the author uses the term "pivot point" without ever defining it.

His newspaper is heavily advertized throughout the book. It feels like it is the other half of completely mastering the art of investing - the first half being reading this book. IBD does have a nice system of categorizing stocks according to metrics such as EPS and comparing them to all other stocks in the market. This database seems pretty useful in finding out just how good a company's performance is compared to all other companies.

But what is surprising is whenever IBD analyzes current charts for a stock in its columns, they always seem to be making "sharp diagnoses" after the event! For example, after a stock has fallen they will run a column and tell us why that stock fell and what sell characterstics its chart exhibited. Never have I seen them suggest sells/buys before the stock actually tanked/rose. If they are so sure about their chart reading skills, why can't they make those predictions before the stock does something drastic? I would want to see them take real time examples. Perhaps build a portfolio in real time - shouldn't be hard for people professing to teach others how to invest. That way they could actually teach IBD readers how to correctly apply their methods. I have not seen them do anything like that in the eight months I subscribed to IBD.

The IBD 100 index is also heavily advertized on the IBD website. AFAIK there is no fund that actually follows the index.
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1 Comment 28 of 30 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Paperback
This book is dangerous because it leaves an investor in the dark when it comes to chart reading. CupNHandles, Double Bottoms, blah blah blah. The truth is this book only shows investors how to interpret so called "pivot points" which in my opinion are not pivot points because they are rarely near true resistance or support levels. Also, the way O'neil explains how to spot market tops and bottoms is laughable. Many Canslim followers are lost when it comes to everyday price movements. All they understand are "pivot points and breakouts." It's like children who look at a map and can only recognize 1 city. To be truly successful you need, in my humble opinion, to understand trendlines, Bollinger bands, MACD, and that stocks for the most part either trend or trade in ranges. Also, play around and draw trend lines like crazy on some charts. After a while one should see that price movements are not random, but are strategic in trying to achieve an advantage on the opposing side as to which way a trend should occur. What you should recognize is that after a side (longs or shorts) loses the battle, they often times leave or join forces making a stock continue to trend up or trend down. If you pile on after they have already piled on, which is what O'neil advocates, they will crush you one at a time, multiplied by millions, using your 8% stop loss rule. Moreover, I can't tell you how many times breakouts fall back 8% below their "pivot point" to a trend line and then continue upwards from there. CupNHandle patterns are great if the pivot point is within 6% of of a trendline, but they rarely are, so beware. Why am I explaining this? Afterall, everybody is filthy rich using CanSlim. However, there are many things I agree with.Read more ›
1 Comment 32 of 35 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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