"RevShark" as he is called, started a investing career after he went deaf, got divorced, and lost his job. He then traded up to millions of dollars and started a website for self promotion that reminds me a lot of Jimmy Buffet's.
He then wrote Invest Like a Shark which is a clear advertisement for his website, which can cost thousands to subscribe for a year! Don't worry, I will sum up his entire philosophy and strategy in a few short sentences.
First, his philosophy. Little investors can act like sharks. Fast, aggressive, following trends of the whales (big Wall Street types), and quickly moving on to the next opportunity.
Second, his strategy. Follow a low-cap stock, wait until it "makes a move" which is essentially crossing the fifty day moving average. Then, take a few "bites" by buying some shares. Finally, dump the stock very quickly if you lose money. If you do not lose money, hold onto it. Then, sell it once it stops performing for you, preferably with a 8-10% stop-loss.
What to buy? Well, that is easy. You can sign up for the "stock of the week" which conveniently fills all the requirements. This week, WFR is the one to buy. I will buy 500 smackers worth at the open, and place a trailing stop-loss that will automatically dump it if there is a drop of 10% from its high point.
Don't worry about the RevShark. He is making millions, got remarried, and now has a cochlear implant and can hear everything just fine.
1 comment:
I thoroughly enjoyed this post, P-Dawg. I wonder if the millions he made on the market helped the RevShark with his second marriage and the implant? Hmmmm . . .
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