Never Afraid Of Heights—david Ryan

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Master’s demeanor (12) Never afraid of heights—David Rayne

The traditional adage of investing in stocks to make money can be summed up as: “buy low and sell high”. David Ryan disagreed. His philosophy is: “buy high and sell higher”. In practice, he does not buy stocks below $10. David Ryan doesn’t believe in buying cheap stocks, and daring to buy high-priced stocks is a turning point that marks the maturity of investors’ investment thinking. Of course, he wasn’t always like this. He remembers as early as 13 years old, he was flipping through the Wall Street Journal and came across a stock that cost only $1. He immediately took the newspaper and ran to ask his father: “If I go upstairs to get 1 yuan, can I buy this stock?” His father told him that he couldn’t do this when buying stocks: “You are buying a stock.” Do some research on the company in this stock before you invest in it.” A few days later, he saw another article in the Wall Street Journal about the stock of Walt Foods. Walter’s is the company that produces “One Bite” candies and “Junke” brownie candy bars. Ryan thinks ...
... this is a very good investment, because he eats a lot of candies, especially these two kinds of candies. After that, he mobilized all the children to buy this candy, hoping that the company would have more income, so that his stock would rise. This is also the official beginning of David Wren’s career as a stock investor, quite like the style of the stock king Buffett back then.

　　Wren grew up, he became more and more fascinated by the stock market. At the age of 16, he subscribed to the weekly stock market chart, He also often attends various investment lectures given by William O’Neill and other stock market analysis experts. When he was in college, he must read every book on the stock market he could find. The books he recommends to investors include: Nell’s “Gold Rush”, Nicholas “How I Made Two Million in the Stock Market”, Li Fei “Memoirs of a Stock Trader”

　　William O’Neill is a genius that Rennes admires. After graduating from college in 1982, he decided to try to find a job with O’Neill. He told the company’s reception staff that he was deeply interested in O’Neill’s company, and that as long as he could step into the company, he would be willing to do any job, even without salary. Ryan was hired. He often browsed the stock market charts, studied the basis of stocks recommended by the company in the past and stocks with outstanding performance, and deeply engraved their patterns before the market started. In 4 years, with his own successful investment, was appointed as the youngest vice president of the company, served as a portfolio fund manager, and as O’Neill’s direct deputy, engaged in the work of selecting stocks for large institutional investment clients . Ryan’s way is basically O’Neill’s way. Buy valuable and strong stocks. He also prefers to focus on investing in the best stocks instead of focusing on diversifying his portfolio.

　　In 1985 he won the American Investing Championships, a competition started by former Stanford University professor Jom Chada. Ryan started to make a name for himself. His annual investment income reached an unusual 161%. In 1986, he participated in the competition again and reached another 160% annual return, which actually repeated the previous achievement, fully proving that this was not an accidental fluke. He won again in 1987, this time achieving a triple-digit annual return on investment. For three consecutive years, his investment income has doubled, reaching an astonishing 1379%. YSHX

　　　While many traders were passionate about trading, none displayed the same unquenchable enthusiasm as Wren. For him, the process of stock selection is like playing a wonderful game, which he calls treasure hunting. He still holds this view to this day, he does not do this for reward, but for the joy brought by the success of Yubao. Ranking the offices from the no-frills to the ornate, Wren’s is clearly at the bottom of the list. Ryan’s workplace is in a noisy room divided into two floors. The place was more of a dressing room than an office. Ryan didn’t seem to mind the discomfort at all. He wouldn’t complain as long as he had charts for him to use and a computer to do calculations in, in a closet in the living room. yunshfx

　　Wren’s success has been built upon applying a precise method and carrying it out Keeping a trading journal is one of the basic elements of Wren’s method. Every time he bought a stock, he always noted on the chart why he was buying it.with strict discipline. His method was largely learned from O’Neill’s writings and teachings. With his hard work and in-depth research, he has been able to apply O’Neill’s trading philosophy very effectively. But traders who deviate from their own rules are bound to lose money. Ryan is no exception. From mid-1983 to mid-1984, he also personally experienced a period of very poor trading performance. It allowed old ways of trading to seep into his mind, constantly violating one of his own important rules: never buy a stock that had risen too far, a stock that was well above his most recent consolidation zone. This experience and lessons left an unforgettable impression on Rennes, and he never made such mistakes again. 　Yun Shang Hui Xin

　　 Whenever you close out a stock, or add to your holdings, write a new comment on a new chart. This approach allowed Wren to focus on the characteristics of outstanding stocks. Perhaps more importantly, constant review of previous records helped him avoid repeating similar trading mistakes. 　　Wren has an important observation, which may be useful to many other investors, that his successful investments have been in stocks that made money in the first place. Therefore, he quickly sold money-losing stocks without hesitation. Loss up to 7% on any one trade. The trading method of many successful traders includes a basic element, a constant stop loss point. Yun Shang Hui Xin Limited