Customer Reviews

Wall Street The Other Las Vegas

5 star:		(6)
4 star:		(2)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

I read it in one sitting. This title fleshes out the contents of his first. I found its chief value to be in the identification of stock investing with gambling, and also the detailed mechanics used to define and time his entries and exits. Anyone at least mildly excited by his first offering ought to enjoy a little more of Darvas's company.

This book is no way near as good as the first. It is mostly the same material told in a less engaging way. He uses the metaphor of Wall Street as Roulette Game in a Casino which cheats it's clients. If you like Darvas's first book it is certainly worth reading to gain little insights on his method which youdon't get in the first. There a few new anecdotes and a chapter which explains his method but on the whole the book is not as amusing a read and lacks the freshness of the first, nor do I think it takes his story much farther than where the last ends. I would love to know what happened to Darvas in the late sixties and early seventies but not in this book.

Nicolas Darvas was both an excellent trader and writer. This book presents a clear exposition of his successful, break-out trading method. It shows how he was able to ride the winners by using his nested "box" system. Further, it shows how he used "techno-fundamental" screening to select only those issues which had the best chance for sustained rally after the break-out event. Event-trading is useful because it is real-time, gives definite signals, and affords minimal lag in response time. This book should prove to be of great utility to someone who wants to learn to trade or to improve his or her trading skills.

This book continues from where How I Made 2,000,000 left off. Nicolas refreshes the reader on his sound methods with his box theory and stop-loss. What i liked alot about this is book is how he actually draws in a great comparison on how Wall Street is much like Las Vegas! (Go figure)... Darvas gives us the realities to investing; its gambling! But dont worry, you can learn to clean the house in no time with the help of this book. Accept the facts, trust your instinct and gamble with confidence baby! But other then the gambling aspect, Nicolas repeats himself frequently throughout the book, which is the only downside. I would definetely recommend this book to anyone interested in what Wall Street really is!

I spent $150 on this book with no regrets. After reading over 70 books on stock trading and studying the greatest stock traders of all timen in my opinion Nicolas Darvas is the greatest stock trader who ever lived. No one that I am aware of ever made so much money in such a short amount of time with such a small starting point. Darvas started with a few $2,000 in stock, his 1st stock quadrupled in a few months. With in a few years of trial and error he had turned $8,000 into $100,000 then finished out his final 18 months turning that into $2.4 million dollars. He then removed his money from the market due to no stocks meeting his criteria and avoided the bear market of the early 60's. On his journey he never lost any of his own money, only losing previous winnings.
I love this book and his previous one because he gives specifics, with dates and amounts of stocks he purchased and when he sold. His books are text books for stock 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 in the Wall Street casino and not getted ripped off.
This book goes into much more detail than his other book and explains exactly how to use his techno-fundamentalist system.

His method of stock investment:
TECHNICAL-
Only buy stocks that have established solid price boxes and have moved through them consistently.

Buy stocks that move into higher boxes on increased volume.

Only buy stocks breaking into all time new highs after coming out of a previous solid price box.

Set on stop buy orders to enable you to buy the stock as it breaks out of the box into the next one. This is where the big moves happen.

FUNDAMENTAL-
Trade stocks based on there capitalation. This will determine proper volume and price movement due to number of outstanding shares.

Buy stocks in strong industry groups.

Buy stocks that have the greatest expectations of future earnings.

Even though this book has not been recommended by Willim O'Neal it is an excellent companion book for followers of the CAN SLIM method of stock trading. Darvas encourages us to bet on the fastest horse with the best record not to worry so much about the kind of hay it eats or spectators opinions. I have made $1,000's of dollars using these methods and you will to. This book is a jewel in the ocean of stock trading books.

An excellent book for the beginning trader because it does away with the misleading ideas about the marketplace that most beginning traders fall victim to. I wish I had read this book prior to my first trades because if I had, I probably wouldn't have gone through all the "fundamentals" nonsense and other hype that doesn't mean squat in terms of making money.

A good book to accompany Darvas first book.

This book is great but I think without a significant amount of previous investing knowledge it will be lost. A reader without a significant amount of investing knowledge may not be able to see the difference between this and lots of overly simplistic get rich quick ideas. Darvas provides a great treasure trove of information but you need to read with great attention. You need to read and re-read this to get out of it all the subtle detail he provides. I also believe you need to go beyond what he lays out in his books to understand the value of his points.

I strongly recommend Reminiscences of a Stock Operator (Wiley Investment Classics) as one of the other books to read along with How I Made $2,000,000 In The Stock Market (the best of all Darvas' books in my opinion).

Being the author of the book "Futures For Small Speculators", I am not a big fan for equating investing with gambling, but Mr. Darvas has successfully done it again. Somehow he is able to make the negative connotation of gambling and turn it into a lesson for the novice and experienced trading.

This is essential, because if you don't know what you are doing wrong, how can you learn to do it right?

So by making traders realize that their is a risk of loss it puts them on the alert.