“How Legendary Traders Made Millions” will showcase the many lessons that you can learn as you analyze and understand history so as to be better prepared to profit from current and future time periods. And as the market has consistently proven, because human emotions are involved, repeatable patterns keep recurring over and over. If you have the blueprint of history, study and know it well, and understand how the very best performers managed to reap the best returns, that knowledge can only benefit you for future profitable successes. And though many may state that it is easy to look in the rearview mirror and then conduct reasonable analysis, “How Legendary Traders Made Millions” will show that experience and knowledge from the past does not hurt your probability for future success and can definitely assist in your quest for future stock market profits.
Introduction:
How Legendary Traders Made Millions will take us through each decade of the stock market starting from 1897 to the present time of this writing. It is not intended to chronicle the history of Wall Street and many of the influential people of each era, as there are already a number of good quality books that detail that type of Wall Street history (some are listed in the Bibliography and Resources section at the end of this book). Rather, this book will look more at the details of the market’s action itself over the past 100 plus years. Don’t worry — it will summarize much of the analysis so as not to bore the reader with dry “old” history. Again, it’s critical to understand why it’s so important to study the actions and history of the market to gain foresight. Because the action of the general market influences the majority of most all other stocks, one must first start in the most logical place for analysis, which is the market itself.
From there you will see how parallels coexist between the market and the leading stocks that make up the general market. And as the four quotes from two of the most successful and influential stock market traders of all time during the past century at the beginning of this Introduction attest to, if you don’t think knowledge of history in the stock market and past experiences and lessons can lead to future success, you will be at a huge disadvantage when it comes to battling the stock market for future profits. You’ll also notice that no academic “experts” will be mentioned in this book for their take on the stock market. That’s because this book only deals with facts and real-world results from a handful of traders who had their own money on the line, lost their own money, and then through their own hard work figured out how the stock market really works, so they could stay on the profitable side of the market and then make millions in profits.
What this book will also do is look at the leading stocks of all eras and the exciting leading industries that were created that represented strong bull markets and how those leading stocks of each era came to be the real leaders and how you can use past information to spot the new leaders in upcoming markets. It will illustrate how the market always looks ahead and how astute investors discovered when the markets began to turn upward after pro-longed declines and offered up incredible profit opportunities. It will look at how the markets topped before they began some of their dramatic descents and how staying attuned to the market’s action and acting on it preserved past profits and avoided future losses for the very best traders.
Most importantly, this book will analyze how many of the greatest stock traders over history (all of those featured in my first book “Lessons from the Greatest Stock Traders of All Time,” which included Jesse Livermore, Bernard Baruch, Gerald Loeb, Nicolas Darvas, and William J. O’Neil — and then adding in a few other notable traders and introducing a new one as well) acted upon the market environments of their time and how they recognized, profited, and avoided large losses on many of the leading and active stocks of their day. Make no mistake; they all suffered losses as well, but their discipline and trading rules limited their losses so as not to cause major damage to their portfolios. Their understanding of the actions of the market is proof enough that historical market knowledge can lead to very profitable future investment results. In addition, this book will illustrate how many times throughout history the market gave leading cues in advance of either topping or bottoming and gave those signals out in plenty of time for astute and observant investors to make profitable moves on either side of the market.
Contents:
- Industrial Stocks Produce a Millionaire (1897–1909)
- A Few Sidestep Landmines to Profit (1910–19)
- Shrewd Traders Made and Kept Millions (1920–29)
- Patience and Flexibility Lead to Profits (1930–39)
- Victory Creates More Opportunity for a Legendary Trader (1940–49)
- Innovative Stocks Produce Fabulous Profits (1950–59)
- A “Go-Go” Bull Run Puts Profits in Pockets That Studied History (1960–69)
- Most Get Whipped Up and Down Except the Best (1970–79)
- A Great Trader Outruns the Bull and Avoids the Crash (1980–89)
- NewTechnologies Produce UnprecedentedOpportunities (1990–99) 181
- Avoiding Bear Tracks Keeps Prior Profits in Expert Accounts (2000–2004)
- Learning from the Lessons of History and the Greatest Traders
How Legendary Traders Made Millions: Profiting From the Investment Strategies of the Gretest Traders of All time By John Boik pdf
Nikolai Sanford (verified owner) –
Save your time and read How to make Money In Stocks and if you have read that then it read it again. It’ll be more worthwhile.
Israel Meadows (verified owner) –
The book should not entice you not to read the originals! They are entertaining and extremely instructive for those who seriously want to be active on the stock exchange. In a large style and long term, not in the sense of “from rag to riches in one year or less”.
After reading the original one, this book offers a revalued summary, the best quotes and the historical context. Therefore also highly recommended.
Andi Rios (verified owner) –
For anyone who wants to develop a historical understanding of the US stock market from 1897 to 2004, this book is of interest. Without becoming too detailed the author walks through topics that moved the stock market, trades and traders in a structured manner.
The writing style is good but not excellent however, this does not merit loosing a star because the book excelles through description and ease of reading. It is also filled with outlines of trading strategies and points to further reading for a deeper understanding of these.
Harleigh Bauer (verified owner) –
Great book that goes through each decade of stock market history, and how the greatest traders played (or stayed out) of the markets. If you really want to get more out of this book, i highly recommend reading it with a chart of the Dow Jones so you can follow along each decade and take notes. Think of this: how many people do you know who have done their homework to go through each decade of the market since 1897? Probably not many. Do this and you will get a stronger understanding of the markets.
Bonus: Read it with the model charts from How to Make Money in Stocks by O’Neil and follow along decade by decade, cycle by cycle, winner by winner.
Berkley Davis (verified owner) –
Great historical account of the best traders of all time. Highly recommend to anyone thinking of getting into trading or looking to better understand how the greats performed.
Dani Preston (verified owner) –
I rated the author’s previous book “Lessons from the Greatest Stock Traders of All Time” a four star and titled my review as “A shortcut to must reads about the best stock traders ever”. To my disappointment, this latter one is so similar to that. The addition of three more legends (but with relatively less coverage) just didnt help. I felt strongly of being cheated. Even worse, the first one is much better. I would suggest potential buyers to get that instead of this.
Emerald Stafford (verified owner) –
History will often repeat itself but not always in the same form. This book has a good incentive since it tries to teach readers to learn from the history so we can better apply to the future, but then it deviates from its initial purpose by burying the reader in a pile of technical analysis nomencalaure. After reading a few chapters, all I remembered was in such a such a year, the market was up first and then down a little bit and then down more and then hit the bottom and then show signs of returning and then down again etc etc. etc. After reading the book, I walked away still with the question in my head, for all these years, did these traders just hit the jackpot by luck or did they really have a successful strategy that we can learn to use to apply to the future?
Kieran Weeks (verified owner) –
I found this book extremely helpful. After participating in the Markets for many many years little did I ever know of all the circumstances and situations that drive it.
Damir Rowland (verified owner) –
The book is laid out in decades. Each chapter covers 10 years starting from 1897 to the time to writing. Boik summarizes each decade in about 20 pages or so (about economy and how the legenardy traders did). Each chapter uses the same template and same wording which made it difficult to read and at times I thought I was reading the previous chapter. Boik also promotes his first book way too many times throughout. We get it!!! You have another book. So why 3 stars instead of 1? There are few good words of wisdom about trading.
I would recommend skipping this book (unless you want a summary) and read some of the classics:
The Battle for Investment Survival – Gerald Loeb
How to Make Money in Stocks – William o’Neil
How I Made Two Million Dollars in the Stock Market – Nicolas Darvas
Baruch: My Own story – Benard Baruch
The above traders are the featured traders in Boik’s book so it would be better to get it straight from the source.
Kelly Bowers (verified owner) –
Misleading title. The book is basically a story and mentions not one trading or investing strategy. Also, the “mentioned in my previous book” upsells in every chapter are very annoying. Spend your money on the classics that actually have actionable strategies.
Dorian Hull (verified owner) –
So he discusses how the US market historically performed and at what times the legendary traders were involved. Little was discussed about the methods of the traders. Good book for entertainment though.
Khari Bradshaw (verified owner) –
This book shows in detail what it takes to go from inconsistent looser to consistent winner with real life examples spanning 100 years. Chapters 8- 12 are the best, detailing Willian O’Neil and Jim Roppel, giving many never before released information on O’Neil and how he made hundreds of millions using CANSLIM. The book shows how CANSLIM was developed, refined and successful over 100 years. With Roppel you get an inside look at the trials and tribulations necessary to make the system work. Very uplifting. The last chapter summarizes the traits all the greats possessed that helped them consistently blow away the market over 100 years. It also gives detailed market responses to every major market moving event, like the Cuban Missile crisis, rising and falling interest rates, G.D.P., and inflation. This is an indispensable reference for any serious investor. The new Market Wizards.
Alfredo Bennett (verified owner) –
Good material in good condition
Hattie Villarreal (verified owner) –
I read the Battle for Investment Survival, by Gerald Loeb, back in the mid-seventies. It is THE all-time classic on successful investing in stocks.
This book springboards off of that type of investing philosphy and adds to it with the advice of other great traders.
The last few chapters get a bit focused on O’Niel and Roppel, but I think it was because the author had more access to info about them. It stars getting a bit self-serving toward the CAN SLIM method and Investors Business Daily.
All in all, it is well worth the price. I have already seen more success as a result of reading it.
Pearl Choi (verified owner) –
Great read!!!
Armando Sheppard (verified owner) –
This book is an excellent history book that will also teach you how to trade stocks. The book covers the stock markets actions decade by decade for the entire twentieth century up to 2006. At the same time he explains what the great stock traders who lived at that time did in the market. He covers all the bear and bull markets and what caused them. I agree with him on the traders he covers, Livermore, Baruch, Loeb, William O’ Neal, Nicholas Darvas, Jack Dreyfus, and Jim Roppel. (I would include Warren Buffett and Peter Lynch since the mutual fund manager Dreyfus was included). Every trader included became a millionaire off the market. You better to study? The author recaps at the kind all the similar characteristics that made these men so successful. Here are some of the similarities they all had:
1. Only trade in a bull market. Know the market trend.
2. Make your own decisions do not be influenced by others.
3. Learn from market history.
4. By stocks that have strong fundamentals that are leaders in their industry.
5. Buy more of a stock on the way up not down.
6. Buy stocks at 52 week highs breaking out of correct basing patterns.
7. Cut losses short let winners run.
I would also study William O’Neal’s books and read Investors Business Daily if you want to be a successful trader or investor. It is all you will need. I really became successful trading stocks when I started following the principles in the books written by these authors.