How to Make Money in Stocks by William O'Neil | Book Summary and Review | Free Audiobook

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StoryShots Summary and Review of How to Make Money in Stocks: A Winning System in Good Times and Bad by William O'Neil

William O'Neil's Perspective

William O'Neil is a noted stockbroker, writer, and entrepreneur. He founded the stock brokerage firm William J. O'Neil & Co. Inc. in 1963. He is also the founder and chairman of Investor's Business Daily, an influential investment publication. Born in 1933, O'Neil was one of the first investors to include computers in his investment research and decision-making process. At 30, he became the youngest person to sit on the New York Stock Exchange (NYSE).

Introduction

How to Make Money in Stocks has sold over 2 million copies worldwide. O'Neil's CAN SLIM Investing system makes it easy for investors to pick good stocks. He also shares tips to help budding investors to choose the best mutual funds and ETFs. The book aims to show you how to make intelligent investments, even if you haven't owned stocks before. As a new investor, you'll have many questions, such as where do I start? What should I look for in a stock? This guide has you covered.

StoryShot #1: Learn to Read Charts

Charts help track the daily price changes of stock based on supply and demand in the stock market. Learning to decode price movements on charts is key to making money in the stock market in the long run.

Don't buy a stock solely based on its fundamental characteristics (cash flow, ROI, history of profit retention, etc.). Charts present a stock's price and volume history to you to decide if the stock is strong and worth buying or weak.

Always carry out a technical analysis of a stock using its price chart before investing. An analysis helps determine when a stock is worth buying at a price point and when to sell. You should also learn to spot patterns on the price chart to predict price movements. Price patterns and technical indicators give you a great idea of strong entry and exit points.

StoryShot #2: How to Pick Quality Stocks Using the CAN SLIM Strategy

C: Current Big or Accelerating Quarterly Earnings and Sales per Share

A: Annual Earnings Increases

N: Newer Companies, New Products, New Management, New Highs Off Properly Formed Bases

StoryShot #3: What You Should Look for in a Quality Stock

S: Supply and Demand

L: Leader or Laggard

I: Institutional Sponsorship

M: Market Direction

StoryShot #4: When Should You Sell Your Stock?

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Editor's Note: This episode was first published on 14 May 2022.

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