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How to
Make
Money in
Stocks
A Winning System in Good Times or Bad

William J. O'Neil Guia swunanatawr

Gew ula

BY
www.nsixbook.com
 & PRINTED WITH
SOY INK

Wuwuu
ns:MvaUOUAAEN
vn greenread.com
 How to Make Money in Stocks
CAN SLIM Fier
Fequsugss stes:uusudeu

(39+ How to Make Money in Stocks

eu + William J. O'Neil
udauac@euies . Buia avunanatauy
ussuiimsiiwes . vanand wanted
usin + ailasAvinvnas
figailinus . dasineal samunaes
Aaunsawun/guida + bluepixel

ISBN : 978-616-79660-0-7
N6 - 02 - 0258-8765432

Copyright© 2009 by William J. O'Neil

Thai language translation copyright © 2015 by Fidelity Training Co., Ltd.
All rights reserved.

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Inaaiwil 084-332-9735
www.nsixbook.com
www.facebook.com/nsixbook
email : nsix@nsixbook.com

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& (NWT)
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WAUWNWI NELMNAUIUAT 10260 Insti 02-739-8000

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 dour 1
stuuWwur
(A Winning System: CAN SLIM®)

10 e@ unt
qnuiasGenguartilselanieindaussedugagan
alse ienang 100 Haavauinn
(Introduction: You Must Learn and Benefit
from America’s 100 Years of Super Winners)

19 @ unni
ANNALS Uyaovasaninudamraaaniu
(America's Greatest Stock-Picking Secrets)

121 e unfi2
Ben Funuileardnuacisulganrsanasahy
z vad
uartevarardasqnliaay
(How to Read Charts Like a Pro and Improve

Your Selection and Timing)

172 © uni3
C = Current Big or Accelerating Quarterly Earnings and Sales
per Share
2 +e el aot 2. i. a
(Mlsuazeanaiatulnsuratiaqiuigavtaiiniaiulanwniu)
185 @ uni 4
A= Annual Earnings Increases: Look for Big Growth
Z ala munnel
(fo lsuse4ilaiisau: xasuamaiiulangs)

199 e uni 5
N = Newer Companies, New Products, New Management,

New Highs off Properly Formed Chart Bases

(uainlual wansouatlual nasudwasdanis

ual qogsaalua
snngwunaiimnzaaluanin)

211 e uni 6
S = Supply and Demand: Big Volume Demand at Key Points

(quasduacaunu: nvnvfiflgu mem Bannan nfannuuadrary)

219 © uni 7
L = Leader or Laggard: Which Is Your Stock?

(iowa: MaluuAaifusesam)

230 e unfi 8
|= Institutional Sponsorship

(nsatiuayuernanriiy)

238 © uni 9
M = Market Direction: How You Can Determine It
(amrwaesmara: quavarnrsnszystuldadinsls)
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 douf 2
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(Be Smart from the Start)

290 e@ unn 10
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(When You Must Sell and Cut Every Loss... Without Exception)

31 e una 1
AwaziainaravanauacMailenAudaiumdunenewaanan
(When to Sell and Take Your Worthwhile Profits)

337 e uni 12
moaniimsiu: qnanasiaenssanwariaes asyuluuuussezen
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vealai
(Money Management: Should You Diversify, Invest for the Long

Haul, Use Margin, Sell Short, or Buy Options, IPOs, Tax Shelters,

Nasdaq Stocks, Foreign Stocks, Bonds, or Other Assets?)

377 @ una 13
21 AIAFAWA AMA UNMNAUNAZT
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 doun 3
aonuosdwiioo
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(Investing Like a Professional)

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qUuuusraasauy vasdauehieluy lamar
(More Models of Great Stock Market Winners)

402 uni 15
NnavWankuanrs uNIAReia UAzNdagnarunssuMAngalumarn
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426 e unA 16
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(How | Use IBD to Find Potential Winning Stocks)

441 e uni 17
Maihwasmarauarmauauadiusirasey
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458 e uni 18
TaTiquava nani auarulAmounrsasyulunasnusoy
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473 e uni 19
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 uN 3
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181
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184
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187
 Ctrip.com Nov. 13, 2009
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220
 Kaniaavduiuu Sympathy Stocks
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221
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222
 Ssiumisuanwuioonwianwanw:
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AMAT Applied Materials 5/11/2000 $80.56 $26.59 67%
CSCO Cisco Systems 8/1/2000 $63.50 $11.04 83%
CNXT Conexant Systems 3/3/2000 $84.75 $6.57 92%
DELL Dell Computer Corp 5/9/2000 $46.31 $16.01 65%
EMC. EMC Corp 12/15/2000 $74.63 $10.01 87%
EXDS Exodus Communications 3/30/2000 $69.25 $0.14 100%
INTC Intel Corp 9/15/2000 $58.00 $18.96 67%
JDSU JD S Uniphase 10/10/2000 $90.50 $5.12 94%
MoT Motorola 3/30/2000 $51.67 $10.50 80%
NNXTL Nextel Communications 4/12/2000 $55.41 $6.87 88%
NT Nortel Networks 10/2/2000 $59.56 $4.76 92%
PMCS = PMC Sierra Inc 8/1/2000 $186.25 $9.37 95%
QLGC logic Corp 3/14/2000 $167.88 $17.21 90%
SEBL Siebel Systems Inc 12/15/2000 $76.88 $12.24 84%
SUNW Sun Microsystems 11/9/2000 $49.32 $7.52 85%
VIGN Vignette Corp 3/15/2000 $88.33 $3.08 97%
YHOO Yahoo! 3/30/2000 $175.25, $8.02 95%
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253
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254
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visite narndsatngsaumaluisan wiugmivoayuludrwoutianas
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azmnaurlufiga dar maniieaessurersnarsiiatuliliy 6% haweu
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dhalsvanudeidlilgnradasvasnanatinaquunsuieugarasthins
doris lune ansiuaeKouliviudsannesitaughalaesay Ha
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276
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nanznnnsenraughaienowmuasatroanadanwadraindedui
Juil 1981 hudredronesdefifintaernmstuaaniievassuiaimnars
adwaondauacoiantiasuiui 26 fuenen, 17 WOAANBU uaAs 5 HUI
#1 1980 mstiunaniiundnaaontulusun 8 wqwman 1981 Serine
naniilaaaesurmananiuliigagedalulssderaniae 14% ‘lavivare
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anwneniaeiandnaad wiauiunraimsugiauewanvestsaidas
ulucnuaviamulaia

meanamrenwnistiulud 2008 mrauamureaauitedulnsu

uaringraaiAsAAM
uM sauasurldnredunasmaro lull 2008 arnisn
Favfiamatiounddlmadradramellu
ull 1995 unauidheusuas ues
whudnanguane Community Reinvestment Act (CRA) fiiwAuiinwsueltl
vat ee er a
1977 Wilaraudsunsennnduadanin nisnsemad witha lawns 277
 velat
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fivaniariaiaaiinaiey winlail§amuAaciunastnwadi
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ar
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jibe spits oa ee 4
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278 uarmslainasnrsnilnadsaltifiaarudeameadwheunuacdiadnd
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a aa — i =
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Overbought ua: Oversold: riitaowidavavaoven

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Juuavaslunara wise Talia AiqaGadunesnaransefinnzelual sous
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‘nisssuanl& ad07 udodsiiazuenqnsimaranitiinéelnainnnudd nara
280 agunra “oversold” maaan warasluseudranisauaaradasmarnagin
quusstuil 2000
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viovesenuinaliqndas feudasunruiusesiiaardwiagw 281
 107 vilevdoaaedl daadminazquiouilanaAamiauruluunn way
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C = Current Quarterly Earnings per Share (Anlsdarululasuia

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usa Walmasazanndy 40% fis 100% waa 200% wrawinnd
ths dagawialafiditauuintia wondhudsaaaaxdiniaiulniigs
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N = New Products, New Management, New Highs (wanuinsi ual

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i oe Z ee
wniwifwarunrs
lias lunrsAnasayy) 297
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301
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la:dundvidivusuiwuJuwauovauod”

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“Aulaiforatifunesduanasunnsannewdrwandtudluypurauacdudsls
JuRuiluuarasduar" Tuilafigndeludensnaiiamsnaniaconadllld
annwing futfuiiuel uazthdlullwansiueraadlallAuthuiumaandousiuan
ude tuevaacifhuiflawurnomAauiuduMavesqenandwanstuclhafuia
dondoits dufuileieranash! 35% ahve lahiviullmiesntonas
yodranubifuerlanmedandslAauthiva 4% cates nrsaayw 35%
Wovaniuthua 4% fidawinsunrsaranuansngeis 31%
nnsiiseithainasyuitlacauinrdaie AtUAZHeNWTCMTATUAIIN
sFauacuyadramquauavmianis bidlariewnassiany winrsiaciin
Tomanesqautiaztazaunradniialuna atfaiuqnceteste:leuanuatina
Fiqaulalaennaeiin Wanrngiitlenagntesuadtielumenendientan
uazqnaitelAtautalun) anaansnitulA

adwdanowiutaluiuduuia
Tuiluqnatiagarnanardqannaniavindwiuqndlumaianoayu
‘wiGoriaufivanduarHlamatasindraqndednaunets evar liqnyae
anundumssinaulavesqeluewran drqaulsinneviadtanaulunon
fiquGuasaartuthym qnuiarsasi@umanuiulananumesnslunisaa
aasareifulueurnnlalledasmme venuendrihaunniie amare
HautarnaeuleudauuWaanllainaaralaulaimelansuiniaad
avlefiqasinfowaralll ‘aimelavianeutlytnreiflanaravasqes uae
uondalamatanarasnaratuluannantaduniislulemailanieny
figoluauinrlan
Hoquuusrwduude qAAMINADRIINT ANOINYE msaauaznie
nnetuadmmnvanuasii
swan wntuteuaue area aes 309
 angudioeifluadireitiasthy 90% aosmulunaraity labnasithuiloainitasta
Adland lalléviamatinannne wanailllaaneedvauiataiedeuyy
adlsfiwananvingnvtes¢ taiwan vinta wananlllAanutumeasiian
Vannnadarlaivinifutlscaunrwdrieastulaluacanasn laelaila
SidowhertoverletutunarduilallaBaunilaislaslald wacudweus
Stulaild “noaiiudy (random walk)" wenn aiilesanSnwedraiwan
mansardunn vine aemlaidalesaunrsnltourwaumedaad ris
shudesendumairuiaasianaduanylumaanastiy waz
mamneruiainndudnieiass3iuarsemenartunane meen
WondeshallusmMernnduasilludestaullasudnlalushuteaiqa
um saziinaiulimadragnetes qruMasiiununisluniadaniayuuactie
Hasmatuli Maeisaagatausaainnisdaa

analnaavam nainauanumangilaraiamadli
a yo ~o 5 ay ee we
vaawenenanazlaaenunaaia uazadildarsnailudaaanu

Yudd lata liqavdatuad

duelin sulidjumlaniuyund wanduiludy

Tuduanynea wandasindsrmaswansiuasdiulaivini
Gaugarnuszaumsalluil 2000 waz 2008 awivirmsing
Jumsinaiaasraransounilasiunuaaswaniauasiile
a ° »
Awanavinla

auitlaiiivgalailavinmaunglumsanela4 uaundasauda
toa ce YY 0, aw ~

310
 unh 11
SoKouoAhASso-rwllacnMsAAUANAU
ANUWEEWOONU?
(When to Sell and Take Your Worthwhile Profits)

bee ob
fmauiisluunnaranadaramieaadul arauaquioteanduiy
Geftinauiaslaihaundrleduadagnees AeduselvAnnaulA vu
andityfimilauiugaia qnJlugqusviarh wiles etiuaeaqcumnanuiesnns
letat
feet uacisiAigaiiacneifulidelunauiiat dead luswdea ine
Tnuitynnutienendaiudaudounssuavactoaululsielé
dAodsfinsaiutnuiusssumfivasngudd Tuuneiamsanetuean
‘Wluneuitfunesqnutaiteasudounss finenfthangann uazaivilan
Anshuassinala iqadlAwanndrian uslfqndlda aneuuull qruae'laiies
fined lunraliugruhtuialaasll 20% vin 40% Gaaaunsndewansenu
Augthnmauasatsussnadulucuauiuwaiavaqn qnliinwaste
‘itm engaqn Friulaidosanrninetude ifuunemadeaedulueiands
a ~~
aanfiqnanestueant

thaulianeaanll aufastuauld uhuanavasqmira

oo vo, rat » sat a
damlslwiladqwauarnnuarlaiiuciu vasluuia lan vee
‘ 2, a ad vy
HorsnnidansnniAullunauiimsisauvasiuaasqn
Flaviauiaundeanny

dndyyauriny vailawa “nezfievirulduacuiiivnauly

uslwanugazsasgnitan”
 ihmnwiugruvestiyiaesqueaanasiihunadialegnd luni
HaeSnwniialeAAuerve ra bilAths AMALMANIIEUAZATAUAANN NWA
dndquiifenrsfdidlelaiteasseivadivats
wwasuia u1gA nn raGurfisadrenrastsdeannaroiulayalsar
“quanendlumeutstudeteatull uacttadumquaieateueansaine
annusiedsnosnmarlala vouadiaersacintlslanntudrdetayu
aniline usitnonsavAesiinegfuvunadluneuiionawfustuduacn aioe”
dognarndrtuilinafina:latreluniaiaBuaainaeaty wea
sonlad wesurmssewhnassinadlazaunnndseadneqanauh “uuue
ey Tuam ofualaimetelqnrrdouareutinawareiafidlvediane’
Ta inal AMatoutianenthainuiatlelureaantnuaciiutiarwes
afimssonsiualuiden seri ier, wal dod “luniauldwvindul
uiacnazmangageqn thyanafideneoanantuanustifudlsetureutiths
aviilenranzquazanndviasnn” uae asfad wu. Tu tinnetuilesau
anwndusaadnegeauniiensralid “ler ariMuandeviaamuiaty
nrmifhwanenieiisrarfiguiuyaduda aosiazamBannunstiowuas
wee Juanueitfutnéeiotull
Asi wrwredeaaatnnertynaudariae qrufuaMeseanantu
amenlaiils anuauiaansnszlanaansnainawenduladunuelunen
‘ x tw a ale a
Aahvtuualindullauiuanlunawniwivasll

AcUdovWUUIWUMIsUOVMsHa:nisuIaqUBULT

lameuszaunnaddeativetisluglluaaatis anazHasiinguaz
ununrsaesiiaisuazmsaamquitavau aalldvannnglunstauacae
uomwienliussnelSunietaduidludomuneasswi 1960 Iumeuiten
dudlulusninaffumjuii wadiow ala ngwaniidouliuvtemielunara
uanuldenifullwednuacnsduavnaostoeestuaiAlulahunundsean
tha luneuttasGadhaiiuenajarhutunrsianngaresnglunsdeiasssy
yy alatal
312 Yunaingnaanwwla wladrsiquaslAiuclal naiuaesessreoves
 naniensnieunauvintiy
nglunsferesusigniianthaniiuaxeumtumeunns an 1960
Junouttunianaalansvinausuninaruangaludasaesiineunt
uaranesys nesmuillanwituanAanasnuasailadslunaurhactenths
noswmuitiiaunardinad nosmuidsiuartlenndluacswirwesnasquayy vane
nesmuiifhudusisvessty
nuaraaunreluiaamreuselmsananninsnradasiatuilauas
nauseneunrsfiaundsmauelll 1957 fail 1959 sre TuNAusenauNrsae
udaatunuadenestudaluainndaiinesute anntiunallaliegasyanrin
sorfuuariuiatesmneduns aiimrariadurasfutalvaiiinaspuindaia
Foluusialauna
aly yy,
ndearnlagiusaluiqasiasailaluainndntieseuda anAliAu
2 oat aly, yt a PA a
wuaainhannsés Hunndogntannramiugageqorastulusauntisd
rlountioita qaanadirauisiiaa Sovfudtonibaiinstenauillansendn 40
nanan’ uaz 50 naaarfuruiunarnaraiou iuilaataduluiuits
Hnsrargeqolualuactullainanitsendns 50 nanans uaz 51 aaaart yu
Sraradugduuunedluniniauhiiueencatunhatanidlugageg A
walaindioe AaillAunzuattdrAryadaurniunuaasadheiuae msten
snaniiluqagsqa maifinzatnaneingluuunesgmumanihiasndadcy uaz
qunurammungluuumrwismnamwiaeiaiaslAudwauwn

nia iasawa Wudindwuuisn

uaa agenauiluineduasnuactind
ini (tape reader) arian
qasawnealaagevinnganssuaasnara uactannelunauineiinianeg
dharningngaqalnlaangluuneriunsnindetanints andaeraus
ussangusispnaunosiaivarianiutaviatiovempfinssunarelulaneya
\iusie (quasduazqunqy) uachawiuuatiedaiugmuazenaiudausta
qaniniianeith! Madwaiaaawande
ununtaqeudalunrariuaaiiudoGuduaesnaswduean
ten 313
 useneuldauaumjallylussauaudieanmauaciancunsdenelu
UnaeTunesifunaretoedafedlumetaasl
lun siilanaluajain en
\naiihuanfiantanudaluneufintundine niu resuafaieudiaeesn
‘dunundearntiy nasmurdiny aosnsenuiLiurstagaaadaly
fovemnAiGuvirunuaesiul waewonifinwasulAadrevemdendy
Auniu nawquduniisriunsiog ula vavfuau giles uavdnnasquniia
Tae we to uiounndafinermunsulauacilnadadtedsilweuials
oidlnsnaneawanstunifingstuadrautounseandow
7, Sx a oat sisi lid
oemung umstetau snnaumawlull 1960 Aaiudeda
1. Wajsnawaulaluiifuiiioaannnd 20 aeaarfiulul uas'la
FumswantluszAunieainanriy
wee ad a. oy ae) elo
2, Udimiuasdasiiniaiiniuaeslesiatuluularilaaantiluae
, i BE tigi
ga uaziinlslulnsunadrqnazmeafinauadirstiaen 20%
3. Uta lunauiifuiingageqavtandeacinqagagaluaivacvinin
a eet x w «cal e
Suldimeneqiuneinmslsuguuacdosnimsiudoaessa
iad oa Bek ad Tce thech ocihoat
Madehe nisneqimasasdFu nn saeneigsiuedtion
50% sinndeiuaagvasLew
Mn stanumesuvasiucais

usiousnnantadrraqavasnglunistediluaiiAe Universal Match

4 — al i Secs
‘uheununniud 1960 nanvesthufiatauidaluaan 16 Aaa wi
nalli@nansnfasiauduauninainsulansrwnn aidunasaraeyy
wantin sauGachuounraiulusninadyuuarauilaladgnArdqwauian
witls uacnadaieuasaediueanluidafullandes neudeluiliu
108 Aounnafinaumuueunrslunradufeanuuusedrdgesna saden
Procter & Gamble, Reynolds Tobacco ua MGM aannn uarwansiuAdl
matadauluavessaradrslanousudeaty usinsideinaulallayan
atfawareGuiiaadiMeanreaenuiuild
audio
udosaaniisesinnati aulatumanausulmtnGeulundngnenrs
WaranrsL3w1s4ANN (Program for Management Development #32 PMD)
314 waNgaausnvaslauuLBmegahaarioria lutein wnisutieniialy
seudaaiiaduardaiin wallAdunedarrugefauaznsasnunaruanlu
Yarayn ainAfiqaia How to Trade in Stocks eutlauiaad Ainainat
ainda an laGausiqausardvasquluamallanriaduaun
Qn usifumam ulin lunawiamgnerawin

1948 Jioosuas tadSmisiuuiis:a

~, ely ys w Peet aot 4 oid
veraininlddunitanasia alAiviauuunsiavsansseaae
me ot ie ae a a ee
niuiadvainainrfunauiiwiviullnderiniavaedy “Haare
x a Ho 8 Se EE on
aw" Aamatintoudcainnrsdayuatumaarqn qnuassaraAivauen
a aia thc cdsccin clit tacadl ¥e a.
Junaunmnrasstuaaull mahaziadhwilldinastayulunaunsniues

Hevael wqneasusluega pivot point Veaqalunrsviinaanignias uass107

vostutunn 2% via 3% VnsAIMGalluMauusn TavituguUdaTuAE
4 aa — £ jd d Fi
Mstam ui rusoM Aaa Mian rtarungstulumaunes
quileuaziiudiagn ustiuarceudunisdeluuininitieuasane fey
flauastuilmennaanmndunuiadnin aNaeMUMoTNaRAN
ANY
aanluaciasiaiaynas
ae + . atc + ‘
Taluuandiwadananaanianaudaulugjasyy dauluqjvaswan
nnavtaaaanas Suneandwanctanuinlunauinaiy
ANUUMNANAZanruyULARUTAWANIA UP ACiMeLAaURWIN
adennduindasqnlavinluyunlallAnauds suduueunrsiiaiad

misiSaugdoamisdinsi-KADwWWaNalauovWU

‘udaeeiusnaasil 1961 unuuarnguasnin tlAnaad waite Hu

aurszAuaauaniinnaa
uid Great Western Financial, Brunswick,
Kerr-Mcgee, Crown Cork & Seal, AMF Way Certain-teed wellasnindes
Qatou Yuveuuniflaidauaudr
Fe alge. caw a saatot ai
Naarulignredlusevaziia
Mignhavad Nunez aIoneZiA
S cmesidcte list act ilar. 89 sabi cin cdl
Tnetamudrliianarias Aeuuadalanuchiauacileia uslluiiqn 315
 lovfutuarieqageqa naifidestuldunuivhluasdontnestilevoseas
mel) srqnulMasmandoinuiiaudonamulaaasnqngadnuutnéona
iraxlooe| tuAotiywiiqndoaucyuthuacuilustuliladrqadeanas
fiaviluadndiednsuiats dqnuuiaatials qoufiuw stuiuGesiene:
wane naigndiaseeinsfiqnlunneAnarayunesmuuduaaunannanss
vided usinaithialAuauinyuiianis
naiiomisathsannauldierntoundenadtl 1961 uifansaareit
mastoaneynaxsiua/lavialudaentisthiountuhserhsaviSunnilout
ThaveriinasfugnsAmuaemnsenssumamsiunadeuinrsgueruqiiaing
wtasiiuan aailivanmauasinueiawaneuuadnlunngaiinasdiaaula
Fouazareinau arntiunufianedtudouasliuueadevesnara
uitotiywrvesnuifinesa9dn ANB lunriaaontuihiavianqal
voariigniios usiea/lidtuaumeduielaiasrewanduuacriniseane nat
ifhuldtiitbifoofor laavodl aurea
ve2 aailsilanseminiaehualaiiaiin
enffuddlelefieaesocnestuuaciiadalsaanin Thuvosnaetulluas
ann@usasadwiugndiauaciinleslunszanwnasiimelaunauninaes
viterthusiaedins Tieaflerunes Certain-toed viFneinsninaataii
finalasvad svnetiaitudaueithafven navtethuitvananns 20 naaart
‘vdndiog ustluseudradosfinanniinsdadanundundothanuaraweaen
‘Udaerinlsueititenaaeutoaqawintiy Certain-teed Setuluauslermuths
aqua undiouiaaltuvoanitgndesusnslallAnaemindniilerlerluite
uavdumariiae
i lselenieinlananiiuusaingmsniasil!
Misiuasrevlu Certain-leed uavarndumaraxayy Iau
fignfigaiuded dunqusdragy um siugoowudiavaiawarnazlatins
a
fealléniv insets Wenaenduinandmanangnieslgnslssau
anNarssluawran anlAMaminsaaneianidamadny axaesAns
WoineGeuyernwandutatenlay Thaihauimerin suesifluasutia
woratreusswingdlinamaeuarmaiaaulanlllanananularialty
gf a. ody
7 ad y oe 1d ate + ol »
AMIAYWAIWALLABANNIW AmashiulAAdadoqnGuuzeainaiqula

316 Wawarolilivinti
 fAaanuansasswindaucuaciut lidanivluaaraguite
WHinads srqanwaumeainaarandluil 2000 waz 2008 athifiavioutiua:
Andaatull WaanarinfawaradasanaruuTin Anau uaciieung
‘Wwiiy ued nae rnqnuiraastwudarwuiflamrdianaravearqns
uaciiaiqnundindeamenseniasiialinnunne wariudawounn
1A prin ndm eter liileelunannnaransefasourialunt odauiah
uda uavlurlesineauiinn sivesiinananssfeénannanenaniaduewran
qndlallAvihuduraundramanfnduacronutlvtedGutauiiauduy
wileuedheininmadlesdaulugin dqnuinludenuanusis
unde
uid shumansofaculaeutanennraeqndhllaid
“Sultan udulunaaszaunrndide” wewalaay waved
aAaFquuMinsensnewussinAMUyALarl “suANAdnsuasNaioTeN
wian Maven uaenrsGeugenaritiawarn”

liwunisuoviiiisia:nisuianuaduUsuusvuovwu

annuadnslumtaneiaosiy utunudnuiilssauannadiiad
uunWiattadSettulal 20% fs 25% vavarniinzaiiunnaang un avionrway
anntiuwanthatinazanas abagiunarini uaghuursnsiifiaenduts
qululdanags dounraflarray valid auldatengaunndanastertun
qoute pivot point uarilivutlarliltiisefiovterfinau
aanusies
nudvivivdullannnd 5% gandaqenis canter evpudiestuauly
20% luanustahconsetulled
adivelatin tunatilaes Certain-teed Hudvtull 20% Iuvraniies
udaasdlan’ ag luuusestausseduqauantauntedvacivauaclt
UsvleniarnsulMlunteuth Aetuustedetounduidrccyiigndmiy
ng “ane +20%" dunia dnfudlatiunsenseadrsananatunselaniiy
311 20% élunils, aoa vdeanudilany qruazdostorumoiiuven latina
tenmlndlariiudsusiqauinaovests anmiufiaetaniamaianeiina
‘snaosavilasiultsialuanunitauiasArialsaandaueamaininay 317
 (capital gain) luszeveroviala (uaauiunaiunimautaduiuniin
Taleaandawehnsmantussare) farfumnasansiandamariidaly 8% cn
qzaaunanuuaznediweansn
AouuNUN saad luarMsnayuatuliuugerae vera
iteqnslatinls 20% (uansrinwuniiwaaninngaludruaumurienua) was
FaMsananuaarAnun lay 8% aaindrawianuia
uuunrsidiitalAuBauielugiumeta auawniaeiialvaasass
ee —_— Pi »
uazgnutvntlanidelifntiywmedumeaauloy Heqagnuagitesnas
Navtamumauduouiuntiouasluyuraanlusrarnigetullaosaruga
LouadfiqnastasgniAnimnaulaneiuneasanninas und waite
val a ih, cole Si —"
udiqaaannn HunadluyuninaeuudndrasgniaAulheareansuarla
¥, y dat aa ed
il uyuiiinacuangaresmcuadelatias
a — 2 “ wai 8
wereld aueeianistamasusnvessalumeunnasiniste
‘Tunauusniiraraul 2% vie 24% lana MaiuUuadoaantanran
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violalfllitaxtuiaac
loguiilaudiqnazgn qmerinavtamudvihave Wetinwoe
ude euianerlAnieuuacidaundanuaaanllaudiagaria wae
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MaMa eurinasruucindraasquaanluacinaululal wis
Adudausaasqns qulMiduresqnuacwillaeannwannauacaawn
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eo te al
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Junauinfurlrdeatragqurarimiienuareaianan
tinls 20% lusasvoaranntounieuududandiials 20% Ades
nan 12 iounnn tile 20% muduaesndtunistlazivintudnananauum
44% viel domauthlszaunnenivanins qmanansnse
an saulauuuidnn
(dowralunrstatidiaahalyauuuans4y) uaciiadnanwaestanauums
nuruaosarulaull afew 100%
318
 wuAuWuUs:uUcaidlaasouldosivis

foxaunmlunrsfasiiatalaananaulaBnedraniisMamusinnrs
Aunarevinnenounnadovescmifinarnanafionaraarnanliarla
{die Furilludtiinaravesnamndalaldeqagsqnaoawansiunaenarn
Tauaudinvsanasyn 10% vdenanndatis Hoa lfuiqauddldrinldnas
AUNUIANNUUALN aiMUIZUU uM suaAA Nua niadm Arua

LRaneunrdennvesdiadunaralacsauuunedinan muialiad
anNanananfazsryuuotinuvedauarmaldeuulashamrevesnarn
Tousnuasearanyla
1 wien 1962 anaitaundeaanfinglunrsanenntovesnarieay
‘Winutescannainiuynsiatnadntuata wufeduan 100% Inuitlaifians
narniindsacajeutithidmeduaarwadraunetslung lulivaaosthits tae
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Suacuelaclul Wtsseauli qoufiuasrhusideavonasluaranmesaan
un Selaidfidatuacdonadwsndurnedraniniuqn dadeifaaulull
2008 ngrasanihAL Mis avaanw aris bifandinaronndeazaeutirle)
gnnzdnsaanielnay thasmuanritufeunealaunansemunarsuleure
Jumsasquraawanianfimaasnuunuriadrwr (95%-100%)
utoseuil 1962 aaufivadyu Reminiscences of a Stock Operator

osiSo7iu ali auld mutstunrwuadatusuhenaetunssmunves

amraruluil 1907 daaanliWlAesrma
lied warBunuacdeiquiiten
An@eacifintuluMeuunren 1962 ilesarnufiatuan 100% waznrs
Fane Dow wumetuaesnnlaueand osaon AM AM AMAT UsaUUA
avaaGuauvesniuedis Certain-teed uaz Alside (fufliaaqniauuuu
sympathy play ileifisurt Certain-teed lusiaerieumiiarhy) uavtlvia bie
itywiu adiautadlud nine wlunjesfinalauluranacin Ldn fis
aveandruusiiaiiiie Certain-teed ‘ul vavaaifivieauenyny aullulviadats
hafuiieastedn vévarmivluthiunnanesain Korvette liimenwinnh
40 naaans wanrisarinnisvasniaasaxieanwiayan 319
 luitawqaran i 1962 usewdredaamqmanvingasialadaau vhs
Snatefutacuaned uinfonartumdeaanteunmtatuneosneudtall
nen siladeumenciavesilsssrwiuaiauua noneneaeduluea
WaauaargnarunssumrataudlAiiniuiiinstenuaul! (follow through)
au Gadludeyryrmaesmondutailuartiunhdragyluscunlmlvesney ny
Astovhutouanlunaranaefieraulmaiae Chrysler ‘ulfirian 58% atuaira
quuuufiaana@ntesgaureuuy cup-with-handle
amanil 1963 nuvinungresnunamdaeriacnaundeaga Hulana
Aaanawiqyiiaanturedanrshsiuacr “uelfiqn” ditulllate 115% si
sthutiyaiiuan tieytauy Wn Sulidullmarcteuasdul duiluvans
sofaronule) unidauluayifaelainrnuialainuadeuda 5% fe 6% usflunrs
aaaiwin finlsoonsredhesandieunewanrustiiinraaiutorataitu
andounstemauuutisedinatisacainge Teunsdlnielundoiherrufludhugn
cuuCiautubfonuaifien 4,000 via 5,000 manané dansteaweanitdtou
gesnsl uoniuGuandquountieiadaandaume
din MuuuuiNl wud
fuitdugoustalslmalanuctation fu Korvette Iusuaadnludoearetl
1962, Chrysler udauie uae Syntex ignore 100 naaariviavuly
awiquies 1963 Aaudurleftlaann Chrysler éevrncinulululadiiant
Syntex Feil 40% Uaznuuinaulaiastiaruinsedadaidlinieu dais
qgluliisonestl 1963 rivlelévfiadiulalithu 200,000 aananfuaznsitinanla
fiavtethdslunarauanuldeuipunisiavedn Aeiuadweulilasuen
ince axe i i ;
judul aiaana quaansanarsaugmeasnuadraaiy
coo Ss a = ze Pt
amalamqnuialanavanwrainanaiawmoanunnyasqa eau
» ww = el & ws , i
FNWandy wastiigungluainunladiundradaas duarwrsane
Mulanrantisluyiigaludetin drqcuiinraiadiy laivensesre wae
villafazrinsuntinuactanmaqnaslinian las] Aaansniaeiat
sinedcmitiy
sunaudaela
Arvin nanurludanawiuiaruuumedauareiulain
ludnpiigndesusiuds Hie uacununrahltlAnaluiga lalailaiidau
320 Mentosarlaiusty sTuAenrwaduedsadianauaznameuutin an
 ‘Inlaransnerandedraciiongld datas vdooanlhhsarumeurosqns
ynaundresavdunudrmauiaasas lsunvedinantudeuadramarniunte
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thunsadiqnufinganvenaeitian adweaumtaainnn ndululs
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daiierarillndiAusiu pivot point ‘Wiannfiqawinnailulalladauaeh
SanudnAtyadsannfiqauazersaeiWiqnuionadnsidunsnanulé
andr 8% HuaraazHoonnlililenua 4% vita 5% rawhiqasefinilerls
unsadwieraactianaraliluda
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 meuuutiueaaciilumsarelaedersval ldieyariiewwa Whunrsae
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seamen SuMadoude 40% fa 60% aoakeuna wuitdudausers
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seine neracueanti] uristulinasazanadh! 8% unviudeuodraruarlada
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Miuiteingnlaivinnienaren ndvnoanadlalitinan 10%, 15% vida 20%
qurinqnuiniiefigniies malediesuinarhalAna qnuiieslaiteluneutiqns
SAnihadharniivldoer waoladatpuiticdtulianniiulutauea

A@rygniunanivinata

Hounrsfinengngsqanosfuihudoushisluyiigalumarnuacns
Anwnmamaravas namunatevastlaSeiiahintuluneutifuediangegn
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Quiladuftugawaestu witinasquaeluqjuaraseazeanainyulunaut
Teywraeudsaaniuitivlunaeuaaaneld do Quilaarawaniide
anu osfimstiasanedion tnasqunucaelaiitanaininlunauianti
Gurianrsflaanuzauaeluajeanan qnstelae aad ranyadinewanty
tedeviugay adhauiu fale semmne Srowarals ranauunusiany uax
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Unitansimamanihaiimadulnerrniediowuaciioeuthwneigedy
ull 1999 TuTuidleaiuruituuare Charles Schwab‘Wlunautivus
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322 50 qa YurlavauAs udrienesnu ynmaacgnve eantlusendsaamnil
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Hieandwunaesdaluaumsrnnsiter|lurlet otha viaentfiqrumesaneean
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Huila runarndquyretastesglunauiquneneaenrd
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geinsiarilavesTuriauntiis msdiiuiluiindiiastaqagsqa
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aangasrgaituauileqngeqonesdilaniiaunth uacilaiterant
324 qeimidntion ude whiudren Burm stenendansgaw ined
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aad wgndasiumanacgnaiweanll 325

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 5. Yuashiadcnnindudiedenndaut 10 alae fiansanae
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332 0s QoNuasTinana
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5, {uvflounnnedd Waredloulasiudtivintiunesialenalaaa
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wenenamandasnaviraninflanaadaasdounseasdadliitunare
dumannonu deri dhwaneitddquudhmneniisitenarenanialy
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366
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369
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lant uanaayudunosmumartiueraels MnegEyaeadwminernaaroiy
‘wil 2000 uavil 2008 uae!
ens navn uuantarniullaeoutinesy
Iuoenaninilaianansnusiusiaerduredansauve
enanian benmoeAqy
TAUAALMALIIYAMIAlA Suid Winonundasduavardhivelaittecta
n
“shotgun wedding” @amsnigurattedubiiinismausutunesutinans
LidintnavillAiiaernnv ial adhaidulutl 2008 Fgunaaniglavionis
tivumqus9N Bank of America #77 Merrill lynch wlatleatulahiseun
wamgtiucinslnviniaiinannndiiacerenes Lehman Brothers: fuwla)
qnsenansafiazanudauncinudnumauuaciinuy vlietay haw
nnsnalAGengAFumslinguasndnnrsdndetiaauntlecuacinw
378 AMUEMANMINUDAIWANIN HalUAaAnufiannidrcryRandruhs
avdoawan denim inqmatedauacioaulaudadiqnudasnrsundnsly
misaamunaaunduias
1. Radisfaiansaanuaasqmsaludans Iuaaufinan
dudathumenonuiniaasnnuacauuqasnaad tines
dounnneransniazeannilAnusinautitulunonanuiion
11N usloear avium qaunonianaeqnersunlinwiasaus
qnilaiasnnfazauaiaquaansn Aeuacuaerauazarawia
qunsevemaaiomuvtutanintuaniiaiiqntesxmuadranin
iano diana aussiigaiiinasyuumuseynawin wantay
‘aicdnladayuanstyndafannauiaidlouazarnentasiiagn
usfigeadsannla Aunasfazsiamaanamunnaxsmesnquatins
saniaawelodlaiitiounddulay nau npfealAaeututuden
Wavmulsemeainaan 45 tae WeFanrssnamunnaxevesqas
iuftifuanas 7% wie 8% aandreranfiqnsaliane nis
wong se Follasiinlinivlalénqmacersannacnuuar
VilelamiannlemafteandiaSnannnenarunienaziioan
‘uauraales
2. telunauiiluanasiassim FalulalmaadhaslAnadnd
ited Huilsrmonasnazaimileudufunaiasess aria
iierednstugnndnfhhumenthludosesdadeurioumiinrs ay
dneilaetl 1999 ueflearaauntieninnsanldita Xerox taltuneut
Mariastuananadwaunauaulinqanrgaluan 34 aaard
uazquadtowdrefhusrafignannadnsuiase uiisileiann atunen
Auadiirier 6 aaaaré vivluisteslwareniudianirdesos
awumounady deannnevradaduotuliudl 2000 Avene
4a Cisco Systems fr1Ar 50 naaarslussudrnramavainh
Suunndleravdulilés 82 aaaand tulsimanduauliiee 50
nonarslaanianudiuelludoamaranas Asien 5 il lull 2003 fa
71 2007 ‘uifauunsreull 2009 susneiuadiirm 20 nanan?
a at a ey By et Wiad
3. Faedanraunuiastaadaniu drquitetuiavislli 379
 377 40 aaaané uazaimiufitauidallaniina 30 aaaars
uaz lAgumuvadunesqrueansniths 35 naaars AMMACAURIN
urine oqniegunclachuhiimuduiludastl Naqnsuuudadsias
isu iriusfus emtauuuilenananiaeiabhianremanuerine
win Wazvanszauwarnlialanarqnuadlgndanandurtadira
fuaiuleae
iGeuglumsldandnuaendaiaetayuiihndonegdulil
TaRvanuiiilugageqelvaioingnunmibindetia aural)
Tnahadnipatinmmgageluaiiiugitowdreegennifulluda
Usa raifanuazmrnaAouiiudowdaihahaanersuniuaciiar
Qndiasvaundinarinaciain vaariiaiigatasdatuianibeludos
amanssisiiae unauusniifuiinranzadiaaandoanatiuda
aexnawierfian “swan Mirdeileiileacaradhnesian
oviauladlant larduvArUnsMU Mss NA IaH
feernaztteruiigntusewinenaslile
‘ainaftaswqaauchuindaldadhamawaaunsrsiidanis
dfudlumsdadssifuuarlaidianagahauviedeiaelaies
Hawa luusinnlssauaniaduse anauiluemeatinla
dniledemettugmueslaiié vdtyuncorteitsidricy tinawqudou
anniievlaruumseunnil “luiflezlonaseiatvieeitte” uaztiana
NUMA Taare vane uacdarnansuunucedounes
Anaesthinasde uazlailAdughinlunarnadaunede trdnasquau
auy Snmarumufajeuiannuhliumdnnindadinsifaritlegs
vied qnannenuacsfungumalulatifitinaandengs
. ‘hifingWaluludesvednaotnnsauiecuanqsuiuitelsd
a a

msilFuguluamamacaidauduiurdaulalsiinsanias
amoiinraninaslugeiawquasuacuustinaiuaddlual
‘Wigunrsfuduuds thadluGesdamyannfiqnuataansentin
doqngeqauargqacrgnatedamynowaraliladrnnutoansh
380 acintonitytuesquvinmsaunledquouninndululliaara
 waemananuadwitadrary andvardeszandaed delet
WrIEAILIAUAg uazivesarnieslauenliqndexuaanua:
indadounrzasyulunarnvesqas anulilansnsniaz darn
Foviudaueamasqns 119 ViaATINzanwaANlA AuazHasiing
fignMesusiuduasrmneais KeusinazAaniuladwtiny satu
‘Wanananttaedudemeaeanarald
7. ‘laivnmanglumstauasredesqn Foitiqnivinany
Fawmoduauain
a °
nyiuutaiaiqanqnansaunne:
aud a dd yd
aide
tet

az laautiqnliWan
aie lumsdinaulauarmanseiiraesqns
FyFuarlawéinainnguacunumaadurasqnmlAtunrsigauda
4 I at
anise arant
it
8. deuiunnawenensaasqalllusaainaetavudela us
4. As i i
iaqailéviamsinauletelaludonavilaitaraninleniiels
a vo, co view te a 2d

vam
a
ldanizuuulanyumuunrsazgnaraaanli
» ay ew &
tin7
asqudoulunslidingytausumslumsnety famed
wannrnaaviuelesraaaeonarniat wha iia wan
at
uUszauarindada gid
wanafiuddauazarantazy
» a ° au os = aw
9. ANLNAINAZMATALIN LAMA ACAIAINY AUSHNAMUNIW

QiimaaiuayudinanniuiiauazanndhaAyyasnrsisaug
aa oe es cies ss a y

BlumslininwawawimsaAnassyuuastawevali
Aaluldadhaivadiacy
Favuiisi go 2 oat . a wat
10. avUnNTAIINI ud wIUUAINNAUNUNaL aUUN

Marganinuduauduniaann umeauradwuiuiesn
. °, eal + ew i i

AM AN natarunorm
mind vuuuuaanar 100 wa 1,000 ths
manatee waniangandwanialaaslesinndanty
a + ~ aot ed Od oy ee slat
Awana suduiesdiniiastoyurautiniinrarg
1 gt + a dai. a ll woe
na NAMNINGING? WASNNANIWNANI Nas 30 uza 50 Yu Aa

uguuuaasiuacaarslunauiqmamy ‘lallaéquowyuiian
arnsnitala FagehanangauirnacwilA lNlanigniga tinaayu
Aquauannanlalalluanaztiaruiinan 2 aaaars, 5 anand vita 381
 10 aaaand urifudauluniianeisa 10 naaarsvtadinsiiy
Sulrangnovmrzinquannsedis wandiuersaeiinaculuedn
Houndrquievdnoraaciidadlerlruasedaefianaratumonsts
aefluneuil YufmitouiuGerduy anumniiaiignaglaianansnie
‘Alusrmaiigniiga thud ilduanearionin iuitiimareraae
fienpandivtuuaveranindwiiganin uavifiesvindauanansn
iazanedte 15% fia 20% idandafuitiimngendndaulun) wn
thatuAateanaudueiigandrann manlnfudation anuavanais
dauluainetsineyvintpulifieam 5 manarivta 10 naaantMaris
furoniishidiferiuehudien Thunnuthia touchy ating
funellayataludehoneiumpusinscatiuthantisluesmlseneu
Andulunnsfewsaeriatisrn sesh aged yunargntss
Start

italian hatnosmnauansnsrewieermnisuedouny

nemisuonadieAnthnleséus@ndon aawuieuieuiuma
5 nanarilinsoriuerlaadiemiaueda 5 aoaarfuazranudua
a8 s 25 panasiifusrar 50 naan simaariuadlaeiiea
waueita 50 AAA IUALMATLALANIE 50.25 naaarig turin

5 MARATsIBIANA AIIAUANEITS 0.25 maRArtisWviriu 5% a0

snmiauelta lurfusran 50 paaariaesans avnumneie 0.25
nanarsiuariinieesnnuaciies 0.5% aounatlilasiiacin
wanelrarituiu 10 win uadndiiae luifufieardindy anuil
unntiiitaeResre interna eumaosqnannniniios
Roser ivi uaranseriuanlsaiinyauuuitla
11.deerndtayadu anofa mausemauanwrs anuuamsal
sina 4 Goss auacd ushering iuemsdauuethdwunrs
anny WaanaAoviuiiquldduludanaudug veonu
idanuduihudidesnnglunaia foudruounninlaiar
erGuivanimaredaweandauanhldastudetaudyy ya
snndifieetiioatlusunsanyn Bauk uaemsyiadqwanin
382 Tndevinazlead nadine wananilardennaciesudauey
 noni anMouartoyaduriqalAtunduluniudrahildaes
ai uaviausidwanatuiludesdis uae) neciiffudiatiund
onasllunufavtuad nani
12. aanvusssnary insieiuiluaa weaansrdausaria
folsfidh Guilunauazdandau P/E danwdaryteundine
ulnassialaierann luuarunsdl Gout ndrwdunawin
wile wandhufiasfiedauneasivinits wonduenaasdiartadan
nanuiinigafonaunudunuiiudrweanlaiiucutlusa Toes
Falluda vainiilaasnuiinnadhisnaduthna umuttaciinadioa
tu nanarazihRuyuaeswonanauiiallasyuluewiaeua:
Wain (R&D) vom unlgivrluglunauy wenaanti 4
wor idoedamansnfazdeduludrwoues iuildernthuua
‘TWlunsnuduuounesmerdulunariesuenibentedasdy iu
Muniudnardew PE Snardow PIE HanfraetihunarcalseTA
naanvluatinaasiiiniudennd quss Yudoulunjasaeiuly
snaniiidhuyarwvestuluanueduy
13. aenninas Aituanadredia | waesaesa annuteanaiiaz
‘duran Govulel lnenleraaann aaah nos
@ausnraihindetefign viamsitinusuatendul oa
azifumeusvesqnild stufllamatiquaznsetandlhaiade
Fiuhluavarnitufisiansanaquaesqndfiulluneutiaqnutin
4. doutindoviag Aamduvaatust urriiesunered qui
WwuAL General Motors AlallAdfunaoaviaiauiduiy
Fl tal & chad 2 4 a
Havinasatta nisasnunangaumunnaiiluludavasuan
gaa lua Aaullgn usidounrsduns A taAesAntan qn
muansanazAuwuuaciinlevindularaunwanduasnaral)
dutensnaulaaiall
+ a. wc A ay soy yt
15. lianansanazaszutinis (uazvinora) dayanale view
qyraifitias lusninafursAay waveiaenistayadunrisasnyi
pulMarunenuamininnaciiuunaaauusiianudla su
 Unseilaudowouvimutlscauanuddemaedtovaananian
leswinwafasanaeladunafiemnnainan Tusninadyias
wazi A wuztindrunrsasyuMaaununrldenney atu
und mnsaain atinuavanilaniu Muavieontelute
awnostinwaveaduatyyreduerdwvitudaranendly
sauluaalunylAa (big league: Anszmugeqavasuauan: dua)
tniuaveadauluniiieannvernauvinenaeilallataansaninsn
wanmaviaeldereduerdn udinlusninaivareiisindasean
sangsfialuenmewaniabiansntasiuredanratunuaes
wanianaradiraiqyaariald luga 2000 uwutinltansnty
qeothslaiinde qnulinosae iuildunnannauiull suas
tharulildtiqywls
IG.anavininledwowandagaananadiday uamedia
Manoyurarqnrartioia yosnatheuilsiiae wludeinss
Sudnaiuee aunstoiuasiiqnumsaciindatmadanisanany
vosqnuadi haa
warriurlniq
sassquar
alyantu
17. Revawnfululium@uarenaandiady hvawachausnves
inaiifi@ariatalegnd ile mafsaasnniiulituniddinesinlg
mavinaulalumsasnuliliaunqancalaentedaclasunean
vdaumit qnudsersaeleutilednunsnniellladounnstiary
‘Bunafiuluifionerenatestintalesndoushoressavtuuuy
seen Uinasyuunsnundanlidiaestadwanianilsiaanent
erne ll laimon
iuzasdaa
eaaamne
n usldlaluuutuerdsia
Wauplanrssinaula
Preaniindlunsdounznrsaieis Tatvawrziilarinu
mstusninefeoulaitivesifudauihiounnndledeutudus
aztialAarnmaiinaulantinegnmasrausinauusnuartiaatudte
davartdadudesin pnueieiiadtemteuiuudoqnsraru
Arnendiatuludna idaniuasaruansniaeansraannis
384 asmurarqnlaiond edalauiuunieluyigqnaastones
 Matioyuiiiutionhmstaadentanind gauaansniawiiu
wihnaiiululuedeufaninduardoaaaiulluneunwani
AANUANIALIAIATAWINIANATL MAAN MABAMgaIN UIE
AmMansniasuniasmanies Madrasadodaanarnaiuws
re oe 1
uazarnisa ina lALBeuenuulinnifoiulnainilemanes
‘ ( i A
sams AannstuctlunauiwonsuirdaGuriadaaun
is.thartlsnnAullluaaliuvdatavaadiwewanuiuinaly
act cl °, vos oe “oot
uAiNaevitl
visa dachasamt9a tinasyuursnuavisarnn
aulavanldeaartusardundormmindivaeariiaauduaa
LazArndesigandradrauin seaviaandrinaedanardesia
vel ~ & 8 ~ a
qnneaaltusasdy unaudeianisane “aaltuuuulaed”
(naked options: nisv1HAAFuresuiWaniarlallAhu
aes)
Bagh BAG owe ee a es8
Andre avi iiasFuaduaashgeiumadnanwlumeaials
4qwouiieaantien
. a a . .
19. laidaddeFanneiiermaan (‘at the market’) usitauarnnn’h
Havdadnied & Dips as ek Bh é.
NavdaeravTarauuunssrarsald (“price limit”) Avena
uuutl tnasyurldanesperiusaqud % qa unuMazaarwanla
lufimanfouluonosiultlonindruasiina wd meyndnniu Hats
A
meldirasionaunndeaarse anilanuausfiasnaranaa
ae re ee ap ical 2
Am avivIulodwauwuaslallAeanwnainyunarsaenasae
avanaeamaqnianusrwaunan
i og Pr Bi
20. laianansanazdnaulalelunaundiluasdaavinmsiaaula
dnasyunauaulalfwaninadaste ane vietaeily uae
nor liudlauuuiiuans iihuswanialaifiuwonsley kat A
dounnnilallavinmauaunreilatunisigaiiuda soutlondn
moftadwaautanglunisteuanae Wiafiaztinmslinan
walMaehagneias
21-laisaeiuadhaiiihwana munaruaudantudaivonaeu
uavmrautedaeland unuiawidetalunsmanisuazania
viuaesdowaniaries tinaruitlsaunnuddaar
inn wanla
Tunaraeainaciiludhefign 385
 iiMioluied eter welunsacuaosquieiunuadin 33
Msfudasrnurdanadndnue FnrsnAhahardnadnsia
fad uuxinwewdwiunuiamouarissauanudausatadadn
wantaatinaal#3s CAN SLIM ad uganenennacilfuilg3 CAN SLIM
vat xs ab i l «thal
‘Wiotiusounafiauetadlenqntay
ictal oa
AALNDVANAAIA QasNiAAns] NAnS

adrian viniteyaduy Aakefiuw arwAniuaasiiea yuu

ANNAALTIENANUALITURE AUAZANMLADgTA Tdelluasin metayany
ry al sd
wWamalesuuaciwau ed oe we
naziWinadwsudaua y
vadwanuauaulunaun a
Reshmsiiaaula aiming median! uavedlunamaigndeserls
wentuilavinGeawantinenun velvadrganvienay sofenionu
WAlTHA “eFuatreqadounseqquaundrwansiuaznarelaiiuqauiones
Anu” Tues ia tuazrnumeneaaniiadlunsiarrintuligndes usl
duaedueafunnuriiqal#lisusiy eadnaweruounnsndilaifl
FustugoaosrBinlvaly tinsadiula anransndeusiavasyudounana
Junvernuiulaiteuntlos@usesqauarAumutiniilssauncdaiia
adreqauacdansiulilmedrmanvan quanansnsaugianazasnu
Tuyulvialszaunrindusalsl

386,
 unn 14
sUUUUSTADDdUA yoowsur AavKeUluaanaku
(More Models of Great Stock Market Winners)

nannriomnitMeistinn/lAudnsunvedunelblitiofuis nny jfiqn

vanasoieinanluedn ‘unouildlenadlaiinnongSnfusevuneasmaun
CAN SLIM ‘aluda anunaafdnduitadaudastlariansuusanuneLtiinty
UssarniFnunehititugndnniumaiin vai steyagnAraantunte
‘if@owronstudoadaneawonioes
‘hidnanquetlaqiuassqauaniluetielslutiavieluusnasauaes
ans tudinonauthslllAdwudugotaciarnuhusasqnuthdadaunrs
‘gz CAN SLIM AnersazinalAtuvted Goss anesmudluiuy iiA
alauFinaeswonianieslAdaunsdmisfaduiuaviunaines Taaiua
wi Sufinthustoy uasaluaananiastfinthuiuqniladrqnutlauaciiaa
Umaouredauriais baidrmnaniytaesqnscianvteluqiudluufiosumey
wh fiqnuiia@ulaoeinauviaunvineuifustts uaz laidanlieaveszaniianae
unifacuuerinqnutilfantuan aed ariounhiisosnutilsven
anudiialAdounsldeeuuit shudailawauy Snannane wansindusts
HoneunerisWiqnufannifutadhuductelnjsduy Hausill 1952 don
Ameunilia amaznudigluundrifetududedsnnaania&
AnuiuusaenszmintaaiulAdia Anaanansntasialluiuiassiaals
4ququninlMuawran feusidniuactesltiariaw
388
 FanumsiGulaveviqyiiana Geywniiv

{uil 1961 Aouudquow 10 mana serniausraiuusiazeunesnss

fmdngnamrauimesanrauacmewan (PMD: Program for Management
Development) naiara lAGuthinesyu PMD Sremuraurienun 850
aaaans dowluqiudasrinfanvuayniinthaas lousauduusiavauas
Gushudoudauuris 10 aanarslunaimu ursuaa qw Felunawiiuine wed
Auswrmausituuua forge uewd watin uacslanmanddlénarelliu
soausesuheriunsiiawrm sfiauenuauéin wduuua funhihhivauas
aanlunrsiuaahinesmy iuduiinse imac udeira tion
uacnsaniuunainnriuardenaluudiacil dunn lAenude Taeniy
auLanrsdanisiuny
Suudludiyafitnaulafasiiamaanwanininaedatufigatsiqns
ananenfiavaududnaduiiousnuactieanwaanariernusluinulatians
diovan ai atauar ia iuiaqnuias ‘wYull 16 fuse 1986
(sean 25 Hvaeaantiy) adeainitlddoun
a udasriouminiuianuelal
uaz lumendansusal laneurdauaanniatuanliuas tiyaiyadd
udu 51,653.34 ooaant yodnadhauiiaiAalamlsnnnd 50,000 maaan
uavdouurinesusiazmuiiyarnuths 518 maaand thuitouy aetiluiidls 50
winwdeaanvinnrl ainGutlesind 1,000 maaarfiiasnull
usethaaey seqnacunseuazmaanelumssusenauaciaasia
auasBuniTnaurssmstannelaaldssnrramuaug namie layin
x a a
NTMAIVUENAAW
je a
VWidanaduaueiiuainstenadszain 20 axeievauacw
Ardanausi 1964 udduithinisdanaiaayuld 20 aAredury
aden nlaaaeawadisenios 20% lwuatusimisaayuaanaza
Tulsvariny 7% Hanrsarayuly Standard Kollsman, Brunswick waztfuiia
Au] undalaiqnaramariayuaanty nosanvassrmadaquusniiadu
ndaaintuasiiiiamisnanungendriuain tysttuanany veya
to Me ia, sod at ~ 4 or = 4s
dauriululivfuiiiewuduivteaaialuaiie laavtallude azine 389
 e%
marin lirtumtauullargstu
4
tinytillaidinaAuntinluil 1962 Gathuilillaidvasnaradu wide
dsTu 6 Hquisy 1963 shuftuludats 139% rlauhastinrsie Syntex
vinhidhungauen diefle@ull 1963 AvlslAviatlaliths 474% aan Ruagyu
Gusti 850 naaant
Hl 1964 ihuil@laiaola AvleAAurnufintuantal 1965, 1966 was
1967 Hautidrecbiviniutull 1963 Gaufluilitlsssuaradweannfinn aa
avbiiniqnutiedrenlseinstoraduens 20 win nuazvayaundris
An 10 Unawniyaidelaruanilunetisutdrasiimsnayulull 1969
waz 1974 hay
dosnaréndaewtieitilertramlnihinauladadanlull 1978 dou
misters Dome Petroleum nraiia&ullataanudausi Dome ustuluesgn
was umaraiiaes
Dome lAuadns itudloundenfiilqcuerachsitgadnislaifudaulan)
{ulate fanasaeMacgnaweant! Iuauefustesullt 77 aaaant
adhaiienuitin uasanusiullmindy fi 98 nanan’ uslluiqaudadtuanasin
auwn@atlounsh 2 neaaré Use Tenaniiaurauratuesinass lull 2000
uaz 2001 luneuiiuduunediinfidhudausittelugetins CMGI anain
165 naaars aaniiuaa 1 naaané Saunadauduiyaisinreneiy Pic ‘N’
Save aanlalludul 6 NIngran 1982 flonan 15 anand uolietastuaa
firm 18 naaarsuas 19 manent fouridnatuacilumeniigetufinny iiAe
Asiinnusedioadaushasiinatuluunaad luverunadierqniafionarelallu
Meare Au uiueMastaiunauauAlurarniganswAN

390
 ‘Shares | Stock Date Bought | Price Paid | Date Sold | Price Sold [Gain or Loss
5| Bristol Myers TA161 221161 78.75,
T_| Bristol Myers 1/8/61 221/61 78.75 149.87
48_| Brunswick | a2ti6t 3/10/61 68.00 223.35 _|
29 | Certain-teed 30/61 a/t3/641 39.75, (104.30)
24 | Stan, Kolsman an3/61 eerie, | 45.00 eal
= ~_| Stan. Kollsman 6/27/61 43.38 (82.66)|
25 | Endevco Corp. 26164 5/25/61 17.50 102.96
10_| Lockheed 6/13/61
10_| Lockheed 6/27/61 46.58
5| Lockheed 7/2561 48.50 8720161 | 48.25 7.55
6| Crown Cork give1_| 108.50
5| Crown Cork give | 110.00 107261 _| 103.25 (00.52)
20_| Brunswick 10/11/64 64.25 | 10/24/61 56.13
Brunswick ee v6 54.00
Polaroid 10/31/61 | 206.75
Polaroid 11/1/61_| 209.00 2124162
Korvette ~ 2728162 | 41.00 3/30/62
Korvette 5| ainai62 183.96_|
“Crown Cork (Short) 8/22/62 (50.48)
Lockheed (Short) 67262 | 39.75 (81.02)
Xerox _ dt
5_| Xerox 127.13 190.30
Homestake Mining [ 54.25 "
Homestake Mining Ti2ai62 54.25, (67.66)
10_| Polaroid (Short) 7P31162_ 7/A9I62 97.88 (07.86)|
orvette (Short) 10/24162 | | 9728/62 385.94
10/30/62, I
_11a62_ [60.34 | 171563 | 83.63 | 545.40

2728163 (77.02)
25_| Coastal States 3/14/63 (6.46)
|___14_| Chayster ==
8 | Chrysler 4/16/63 300.03
25 | Control Data 5/13/63 102.55
25_| Intl. Minerals 5/15/63 11.47
22 | Chyster 6/10/63,
25 _| Chryster ~ 6/10/63, 2113
15_| Syntex 9/23/63,
40_| Syntex 9/23/63
L 15 | Symtex 10/22/63
15 | Control! Data_ TATI63_
15 | RCA 402.02 2/1/64
15_| RCA 106.19
15 | RCA
50_| Pan Am
|____25 | McDonneit Air
25_| Chrysler i: )_|
25 | Chrysler (135.06)
30__| Chryster (123.83)_|
30_| Consol. Cigar (62.87)
___25 | Greyhound 53.88
20_| Greyhound (8.52)
15_| Xerox (3.41)
15_| Xerox 62.95)|
| ___30 | Chryster - (101.69)
'50_| Chiyster
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dhangufadnuaiuazmsuinaluay Hintanduduivy§ ative waraeles
FurlssTwavarnn sumnuausiaryaarasana
a ingaawnssnvanwu 409
 Aaiaiifiotunredralaiauga uae lueanfiriqwnn wondufinniaannae
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view Wofazmastuliniu
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410 neeiidluunsadversavadluszeceuy aeansvanndatuesmanazsaniu
 a. n y a a tM we
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1960 anwns NTAANKAZhEN HgGU
1963 ananisiiy
1965 Aasaaaama Inavienia aunenitematn
1967 manfiaimas saan lousy
1968 thumfewi
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1971 thuindeut
1973 naian lausitu
1974 couiiy
1975 YwiguarwAwAr nats
1976 Tamanna hfananie anuneruiadgioe that
1978 Audnvzetind tinalu neniiamasaurasdin
1979 thifu Lina neaiiamefmaradn
1980 AANWaLMAsIWIALAN
1982 ath sneuel nnarteata quiafndiiauuuaasim msnvis
audnnsafind thuiadeut Fudalanidedh aaoiduidn
1984-1987 enandiry anwne Frunwmauaciuine? quiaaniiio wauia
79 sevluainannamad
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411
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ina surIAre NITAIDIAVUUIUALIING qunsnnaMrin noe
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429
 IBD Composite Rating
Earnings Per Share Growth Rating
Relative Price Strength Rating
Sales+Profit Margins+Return On Equity
[rc Accumulation/Distribution (last 3 mos)
| 1 Ld §2-wk Dividend Close Vol% Vol P
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430
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uci] Wiiarsnaufiunrsaaulunasyunesqnaiioduanasurainqagaqa
30% wexnnndiit qmorrazinlinatisautai@udrwoulaiannanteniiala
thandanngandiamoauiinacazauasuaa *amilanweany ania
‘Pnanauunuad Ana woaraasvzaautl
naurutuiulvnamuluyuadhstnahavinnd availa
ninndramalagsaludamaianssie uwansuilasanadlaannduduiy
462 ‘udowmmovil achiiliuania aruseanenenaiaswvedllussesva
rari
dhevihunu uasad waz nnmacvinaniuiladioana
= a tanaatl a :
AMATIAZAAT IM saNaUsINluIeMI wd ITALIA TA NIE

MsegiaanmanwuaiuurasiiuarwAanudinmediueiasltioay
a ty ad ~ . . ga dw ra ~
Frawauilndauacndunwimy edwin Wagroanaliumndaey
a _—s xa ——
Aumauda Sninasnutenqagagalull 1929 wananasnduaunaywly
vaanunenue 14 Tdlatiaainnasiuaes S&P 500 uay DJIA wintinasnuita
Aqagaqavasimaroluil 1973 wannasnduairyuluawiesud 11 Tl
vanaaniy drwndawaninasnuuuuraagituyniaen (dollar cost
averaged) lunanndaseesna
nd ueiiu (uNeATNIIWoNIAALNAL
a a aa yy, a
Anlunauirrmoanadhnanaandunuianelausuaawaniarad)

wanianfaenduaniyulausveciaiienudAaaeuiny
‘uil 1973 nara Nasdaq anasnrainqagagay 137 uarNusanau
Funrunar 3%Tl tute hwmaunsunwiudil 2009 Nerwaae Nasdaq
x ed ; od. aed cag
Husaaunnaan 137 liu 1,300 udiusidoaaidqucinga
luuss tiaras
ARIA NAMUANTUALIAAa
I IANaLaUATIA UAeWonsuaMadwiuly
de at = vai ey . dosa y a
azestaiGandinqmaAneldauan yoanadrwuisiae mqnuiaaniar
‘Mudigqauassaunmasswh 20 asfiMadouaaugiaannagluy uacqniie
Hinlufiqagaqavernann siniuiliaramaunasmed wasn hy
(dollar cost averaged down) atinsueingadtufashaslhaaaailluniane:
NALNUNAUUAL
ude 21 Tudeainiy Arai Aum sasyuaesqnuiin
a gs a let ow ay, 1 Es dow
Thantihalsancuulawh Gaevdnpuihnauledmstaaaeudilunesyy
souuarharuerllusserenoiuearansnnaniunaaqunriyaarala
= ¥
unvauaraacfanduautuGast were llAyatunieuntiyid
4 &4 ol es eee t e Bat gal
tnasyuardeslitamaunathuyunemaiuduaia mauansiaiae
Juudardatuersaiauduquella Ivanusfinasnusnlulssinaiiinas
NsearelAT UNAeae WANA ATM aLBMIaAMslaeaawiuenaLia
weal sen copeatl lt 8 al desc Pp ccccttencs
aidlanmanduanmaivanarlunga lneninaiinaculuianwinenu
Haider eGaaeirsidy S&P 500 warerivadeqnarunssnaraaud
finlsluszAuqaeansinnesusuacn ya inwanauuNuNMuMlussely
aarwarell nasyusouArsilunisarquaasqrullaruiianudsiitinag 463
 flauyadwasiieiuanns tradoredunasusaasqauiivadir
duduty Aovdantaliqnuasthadiie dials

Acunos4:GonavnuiuuianSonuvla

naw “wuutila” aeiinaifintudoudanednenaviesilaiiau

Hosnratastestuifin uazwandhudunasyulssinniiwulasaniiga Tou
falludoavananenarenasmuaullfiarvaundndane (net asset value)
Junrarlafinnutidfonasnuaesnraawarests
nesyy “uuutle” ef4qwoudquuisnasyuiiasa Iaavialudadaw
unisinaiiadliananangnaneAulamancumesnrsaestifienasyu nena
AussifinatulAdoamaievianetunara Inadauluqiudodouuistunesyu
wuuilaasdinedematuedunaarauanilaau
Tomaluscazeniandvaenulélunesquuuudla nesquuuutla
tugnareuddannruAaedhuavaciinmdannyadamaiylunaa
wuuussya

acunos3:GanovnuiuuAaMsssulday
KSonuUIUUAIsssuilau

nosuTiqn@onaraavifhsnesyuitiiuelrsssauile (load fund) eae

Zinsfarnnaniiedlumstonw veesaciilunasyuilaiiuersssuian
ALK (no-load fund) ware pussaounesmuilaluiuensssuteawinndy
SranionasmuitfinisAaenassuiiuaunisane ifuazildouanliqnalacins
atfudwousuiqnazasu nawmunrsnesnuacilersssuilaslunan
thw (back-end loads: érAandiafulumaneiasgnanluneuiinauwnioe
agqu eanuuuaiieannmaumiauasqueantilainnesmy) iamuaras
Gosthanfiersandatlunauttinmealsediunesputasita Wuyn7 nae Ain
nantlatwlunausnaveandinamiauAadneluiduadwesiuse
464 shAWUN Wadi wia@uArgulnaLanavarqnuuin AneraazaqNin
 ud acteaerenasquludrwouduntiey Wandae Saeviiaeed
ae a ds x &, ay, »,
nantatulumstenenmalunvsdanayunslay lu 13 weautirsutn
2, a, o ye. tet
funvaumlaauanndudalunannamuyuaulauuulaliey
a. wy we, . 8. aad aod
sosuiflen moe aaudenaevared wudue aun idueiaaainaaun
uacLinrsnaeonyanreluGesnisdulaeunasyu tinasqudauluny
‘binashaenenennnsanesyusuuy biflenassuieuwmedauiuies
ae = a a a Bas
Hahasianiawaraludavaeatlunistauacae vaymanardian
a
aasqvianasyurn Slusseze

=, x ~
AtuADS3:BonovnusouIUUAaSiwsiald (Income Fund)
KSolu

Snqrumeanrailrwlad qnuftersaemudatudluGetaaieuniviay
‘aitenasnurauuuuadrssrelld (income fund 4avareiianasyusansya7s
vilasuzdts: ula) unuilasvinehiuqnumasfaziMennasmuraamianian
whfaciiululAuascreunumslumsnauaannn 174% luynlaswraviie
6% siadlunu uredousesiufinausannaznenduiunanlAt wae
unadauaanatlsluGuasusasqan diqnimannasquldadagnites Sui
ansazatanrafiulamtannnaitasaatetunanaucueann
luda 6%
ellaasiuasnuneunavasqnla

qcunos3:GonovnusiaKuodeaamnssuKSonovnu
ASvauiingoli

‘Wain Ausnesquraautulalsangagnanunssuiiesngauan teyw

aoanaamunaniiifeudazuaangnamnssiuacidomlAtuavaiion
uavdoodoumnwfeuaduiullaasavar datiudnanitonasquseven
gnawnssunasquniiel qnufaraazmaaaarunisaiaquedraninty
naunuuangnarunssuiiuad udoaaunaniadnaeAm oul wenae
iS ~ ~, . daw wae wid + 1 ow
santranuarinaulanetuliniaulunauhiudedralsnquered tinasyu 465
 aounnnaviailAnretueanhluavaneadaunrstesnomuaeiamauad
tolunadeAlaiuuerinWHfanesqumumragnensen Saamaninasin
Rudouliladounesnuson measyulunasuaesmumefactiunisasyu
wuunseaAnaesluseere NaanusanvAgnarnssnlaaialude
avlillanaasnuuuusezerd
thqnaiuwanayinsian sueraevtaimdwiuandlumsiasiaen
NANNWULUAAAT duthunefatWalovasnacnuillndiauatudatiierda
athwidu S&P 500 Iusvevenoudanasmuuuudsailarseziinasnuiuite
ndanamuidinaduradanranarey naswmuld dvwiurlonesiuuotin
azmaunasmuyunguiulauinnd

Acunos1:GowusUasnSonovnuiuuwau
(Balanced Funds) ngoli

nallaiAacidaudouluaarsiiacarnulutuatinevfanesyuruuny
nan nesmurauiulonvialudaredinaswuituntiandnaryuviunting uaziile
qnainvasasnosyuansosiiis Vufiqnudanautiacuetiaiiindnduacqnuucias
fuvinihs athaslatia aouiuunsnuiteyludounsumeraazaasfionmnaany
Tunasyuuuunanf awinwaniandeansaduetunouiioand

acunos3:donovnusouravnutucivusanangolui
neamuwanilerarznsvaraanadestianul a uol Aouad aiwct
seam aasyulunormuneuntosnnlunasmuliianandeagendwaniion
15H 10% vide 15% wdearndosrrariiinas
una Naurewussineara
avildoanamareiliinadnsiudla uaemsanulusguriadauszinal
aefiafiunanudenWigoty anseiiarantuaa narnelauaceth fais
NAV UAKAENI MAIAALIEN?
 UnynuSovuunavovnovnuuunaiiaj

mnareaunindidutywrdqwiunasqunare) nasyu danesyu

Hauninddquavaewuduaaaars Suflasifludesenntudwdudaanrs
nawnuiatavtoramusanelunluiudauiio satiunesyutufions
aeilannutamduivieundunaniaenuisinamavieluniadiatiilan
anqurluauraniiiad Ady lavutadnndiiluasvuiind Foumquail
naAaudinGesdouluqisesnamusouitiiaualugiiqa weidhiqculinesqu
TNA Aug ida UuAAudonareilii
ue wacdutanainar
laa
aqluitdnstuasdtewraitluqianinits qnafiansqwariiey world uerlidanrain
RuliilAdquowriniuacded Vina tusvastina nau Fidelity Contrafund
Ffwnslan 3a umuerl “hunosyumunaluaisinrersmresanraiianiga
anuvawareil

FisssuiauMsUshIsIamsia:dasImsKyuloau

tinarquunavldnadununnlusunussiuersssuiies
ive
Fanrsuardarimsnyuieuluwasainala (portfolio turnover rate) was
naw ulunsidaulunjuda mavinatisiddutostlaitarnadaths
aanuszaunsninesey nesnuiafulatdiuacuaiqennsnesyull
Sammovquleuiiqend (Sarmeuyucinulunesanalenadardauaes
Anwautuiflunanarfreamstfeuaemenelusewd
wiles usu
oan frastunindieuuarasnesyu) Snanrsmyueuadevasneeys
Fidelity Magellan Fund dululgeqai 350% lusewiredneanaiindnasuh
Aignnesst naayu CGM Capital Development Govtunsing wu Blues
dunawuitnanluduaudny Haus] 1989 fa 1994 aasiludnuoutls
Aefl 1990 uaz 1991 dfufldmernemyutlent 272% wae 226% area
vaznasuivandinuiesdumuedideduiusialurialunesyy CGM Focus
Fund @uaieutlsluivfu 20 salandimavduredanrsadweiaiiies
jnibioansnanheaunradiauavedluunnirnesaalalann
‘aivianiainsaloy tae d¥amranasyunaazanefusentallunawiwaniaraa
 dndhairarigafuyars Iuneutmaninicaiieaiunaralnsenanda
i, Al vielumeui
Qnanunsranrendnlandumin ial Fi woninmuyu Ah Ali
deumhangela
laud sate id A ah
havaaninnd TAaaahqudraWiwanieardwir waneiniu Ogdasey
od
eet wat Mwannayu ie
poniiaiuaasaniiu ‘ quill
masdenutianad
nin iesuelainducd
sovuntavtan Artueda isa nAuluiuGessarnrnyuden ss
Hunavulaasaaasnssqulurauuaey eye a ow
deinawanniunguuadracy

AowWawanahiodwhwuldvoaiigafitinavnutunevnusou
tnasi

1. Suumanitaciteitey uacflesiullechetion 15 thdawrundats

2. feaifuotudrsssuiuaitueanrsgesnaayu anzanie
uyutausesty wedulunaitusruaansnaaniaull veel
Fonosyulvaiq Woneequitiinarnudududuntislutlerga
3, launansemuarndvaeiie7 Junaroanntafuaustiacumasasiihe
dnasnuseve
4. sranaNuis hl usewhedanarouededuulaeuncomuioe
vila
5. UNAATNAANULALALAT
NWA

no wWawaraiuudus

Hnaaulunesyusawiiy hiduusbinnestanasuninarwanga
nderinilivandiansasty AeinvaniarlallAnsewiniverse MenanslAis
uanterliedefnauhluniieviadedilinuth nowpuduaiinauiazaa
Haasad win waciuamghatidnaznaneas nadwinestufaaannn
Mew
udileidurts anraviduil
om ey al
fintuveananaed wy chat
wauiaaut dey
arutionn d a
uazaumiaenseiey sneneanuielal
dnawquunsauduaen (laaialludainaniluludevaziaiiiia)
468 dingnnasuitinsaultininabinonandeduaaaiandnviealaifa
 we a ‘ al
deeTinaswludasieinue “Fouussnd1” nedunlagunasyueraaciily
Gaslamtrqninasmunudsiey veaqnum
asad lunasuniorssinn uel
madulaenmniniiullesiawasimasasreniuaruastuluscece
P é eH We ‘
Wanarlselaniainnanauununumullwadrwsasa

auiAnlusvere
wean iuiuNiaAMUunaM Mana AA AY
antniaulmiuan
Gee meusil 1790 uacuseinaifeziulnallantu
AWIAA usidnagilasaswy n1aziuasevun WazlAsegnananagaciruin
, — al ae é
fran nvasyulunarusadragniadhunumeniienar Atudseleniean
MaiulavasawinuaraiwarinwwadluaniAAMansaulwanwinnd
20 thant Winuasauasaasans

S8iumisié IBD tiio%o ETFs

yolouandaas nvlituseunesyu ETFs (exchange-trade fund)
Anuidletinnsrseaod quan ulésinndadounrsyeutulala
thinmana usliwere ETFs Tulaserafeeehagslaildueiiesrininasyy
snutiaeuvinthuusidtadludanrmnasyudndan WAeGusunrounquiien
Judes ETFs Iuteunanriudll 2006
Tneftugiuuds ETFs Aenooyurruiimaniuniteuiurty usisedl
nanutlivla Use@manwarumi uasiidalisreieand
‘uamuzVinasyurauiimarinmuarrarvtagadaunindgn’ (NAV)
seawansiuuarad uslarias ETFs avdinslasunlasiuasldnaan
Fadunileunariu aclafimaiquaansanslutuanutaansanle
(ueETFs adradunaawradnuaznainmaailiy
ETFs avila idsnadnumsiitioundinaspusaunmedinalniiies
vdennavinaruaesdiy daauinnarakesmaiacaavielineuanuy
Tunasyu wannazsqurattuAlaerBouasinanaturiu fries eauunislval
Qu ETFs fuwaninn wannrasiivumensafutamndeamaiartinaw
amurlu ETFs aenurdluyuillervae ‘ndinrsuanulaeutusendnet
. +a ~ ~ hak
winedifumatigninsanuludncuseandy 469
 ETFs unneineainnesqusaialnssnarlallAfunansenuainnas
neurfudaweantl dawindihinawyudwowniivlineudueansnan
nawmusay Adansnesquersazgninaulidesnatuiwanianteariiiea
iuiuae ants doniavnadaflaciialiteaunitiiadu ETFs fina
wnsaluBarnuiloudorthaiuaaanrderndaupasianlaiaan
erraasueanrsudwisdanisaeas ETFs avarlsraue 0.1% tulawits
0.95% Gadlodounnndleieutunasmuruunuauteacindrssruiun
woheedi 1.02%
atid lunasqusana qnae Adan imnasqurzduuuautn
faanansomanrado@ulalumeasyuliqnals ‘Wu ETFs uqndrthutes
unudedrdeouavaraies
adi tlamaansaesdmanszarumaidesly ETFs aanananintles
nls anagiinasyu SPDR Financial Sector (XLF) lutawaaaaiavessZuu
surarsluil 2008 nawqu ETF nasquilanaslaliie 57%
naam SPDR (SPY) aBeriudat S&P 500 Llu ETF nasuusnls
narnawinn suGudunrsmsn AMEX luil 1993 nasmu Nasdaq 100 ae
Juynduilfniuluden PowerShares QQQQ Trust (QQQQ) waznawmu
Diamond Trust (DIA) SsSeituMatiqnawnssumrataudtudinraiiladtalu
doslerenaaeaw 1990
wntuil shflnesyu ETFs HatlASaftueuriuMatlaanawdng wins
witaihuvustine @uAdtnadmuel Snauannlaautuan sfiaarsuew
nagnginrsasyuadiraduifulildmedaw P/E dnufhudy lui] 2007 waz 2008
ETFs tihuuilauruyu IPOs ludalasajauimasitin wansugnidavaan
anlnedeifudaiiiiinenadilalAnndrdunuialliunimnnnaiguden
quinine adiaidu {uanauenndrninelureanin lit#ngn (spin-offs)
ubenAlavitine vaanitliigehatugany vivntAuateauualee
wu nsw waa uazyyi
ETFs Wi ian saeuuasaamamsavasvare’ aw feud:
‘WA ulumaiimawavall wansuihinayulussduaasanisady
470 Feaaacrauszinataiimedaiamsasnuarnssara acid Sue Ws
 wansiudieria iiqauaanzainanaudrinattustuardaouanulaauiuar
‘Moavilaidedludariyataaadfariydinanyushrelseinauaneans
shawan WasAaENsNAsdas ETFs WULINAL (inverse ETFs) sibiieyaiiqn
Thuviamenadeinanansnitanuesadlssounrailanaslunasnunuuis
saueiMounurnitadll 2004 ETFs fdmdousesiarcunsdene
sreiMoulu NYSE Mausl 25% nlautis 44%

misfaassiuutinuuavai
IBD aefisreanesnosnu ETFs 350 nosnufiiteniademen Ganicuns
Fonnelusen 50 Tugsiqouasdovaoojwonsutudathuesasiin me
AguQnarunssn Matinaralan Nustinrwtanararavil uavaurrlnastoust
ueeSnaquannlaeudune uusiazmanavajinehidwonsheazgnGasdnuta
AIUNITVAAUAL Relative Strength JaAIUMAINUUAIAN NIS4ASUAL ETFS
doe RS uuuilseiMiiulAgouaus) ETEs lanudushinluusiaznnoany|
uacdauqcututeueuwandila lumerdeacudmsnanauumatucaus
Sull metadudu maavantwmonsereyy danGutluna setaaes
Juriou menfialaeuulash! usc Raneumstonemiaeuuleslaliavien
furniadenannunstenanetu
uontuileainmadnudlewyludes ETFs 109 IBD uaa Wifinnrmarers
ition “fave & qui” uuthaasnasmu ETFs hoe lun Tustuacuans
orefenesttinuactonahuulaenseunatisaemyutuula uses ude
Fudunf — alofdueffadenulaslltuniiedilant
Suderrs: — ulefdutMalaenulashlluntiadeu
Tuya: wesducvinlaeuulaslluaanteu
Funqpiaua: wlesductalaenulastlluvnitey
Tuané wWehducTiaenulasluauaasiay

A471
 msfiofivnovnusoulia:wosanu
Tnawmuiiayaaruaumute avonasquuazity drqulaGeuya
umstiivistaniswafaifusesqeduvinzvaamslinglunstauariane
WUL CAN SLIM uaa qnufinasiasinadndiniauaulucudinaianseis
Usiavass waveananainiudaulury
Larus ludasuan asmarauilusiazass

472
 unh 19
uuofhawesalwalovovamuu
(Institutional Portfolio Ideas)

newavulusen 31 tudausinedududhuf aan rsteyadry

maasuldiuaniviudesostuiluipiwacialuuuusealart
sosrrazudnsarluunt dufigadlidiudernunwidlulllauscace
Poanajautululdersngafialnay fihutonsouiednAadcurntiendnwal
vawresialun dingy samondy viegnnuiinany Tuunnaaiieatin
uazandladanrauairaatundndauasdareudululanaciianarnean
‘uneufiwansiuasnanalulduneaayuadlngl
faain 10 aninvonfunarudaiiinasnmiantmarAreaune
Usenaudauana hiudderviadiadadnyludasierifuudazsotugn
iadnanlum sun erasterudluaxsusnluseutreuasumendenesnrs
Jamandula! (follow-through) vesnaralausamdesinqacrqanesnarn
uu 12 dharma 2009
aruaedainniucnudeainmaduaa ease aiuiienetandumy
anuvitealureu 100 i Aouaurdoutvnastunariiiieriaaunessarrdou
PIE faanntn 45 Huundaluntvnnarililduadenossasianauumusia
dounosraesag 45% uasne@usaaeiieniadavesszesiaarwdean IPO
atjitieund 12
Arlaadadauluqjudaazifiaity 40% Iulasurandsqaaaswan
shuuaniuiinadulavestiletmanadluaasvtaariluaagn yndoaedl
nAndcusthiendnuniuarifudiinuusiazndugnarunssy martuqnuas
Wild anudurediausiAamstiadusuvatiedaduiuguilanicny 473
 nqudlitugluuusasarsniis liotofadsensumeazauiulunmalan
soni nfadhuuuabinandu
am onilluil 2008 fisvaxiaatuazadnannrnifuaeaswiraesnarn
vllonaina S&P 500 naann 58% ts 17 eu mereatiuiuteunndaas
nelufinenrarngarirgerreanaanastil 50% Ha 80% vffa 90% satis Amazon,
Vistaprint, Priceline, Baidu uae Ctrip Hananilehnsfgiénannfesiila “374
S71 Cup with handle Man” AideaeinasGudunrsttuAAruaaaes
dae iwilouatineit Xerox muvirluieudiquiauil 1962

Netflix
Weekly Chart
vignbiutansitngndaoutadt
fAlatinwiula 11 lasina
Bevin
PS lanunadnga +38% it
tonnnulamnadingn «16%
ROE 17%
nosy
67% fawidouainsvns
dosrdau pre 23

te
Amazon ae
Weekly Chart ir soo 29
Soccnailte
azvwrnihulnves 6S 160
dresidlu 2 Bniaho 140% o
uae -99% es
dannviiulavesuaan 80
u Nu 2 Mudie +39% 70
use «29% 60
ROE 33% 45
Gavwou P/E 43
38
32
28
24
Vou
sn. 900
LTT
un 2008 [sep 2008 IR
AT
Livar 0s na
ap 8
1un2000 [sep 2003 [Os 7055

474
 Green Mtn Coffee
Weekly Chart ga 500
ai ileus EPS Tu
3 fndehn 62%, 38% war
“97% nuke thine 2, , Suiou
Fsiosiswraatl
PS annasngn 198%
upnarinlaninachiga «66% “ iy
AOE 19%
dnrvitsrioun’ 7%
uuu
nesquiautinntauiiudy up with nanato
ie
8 lnnunafinviogtu
Sasndau P/e 50
\
tll 2008

=="
[Dec 2008_[ war un 2009,

Cerner
Weekly Chart
Sesraiulayes eS
Unevifllu 3 Oudeta +26%,
+18% war +34% Joutnithinnae
lnunaangn +42%
25%
vomun 2 Tasinasaan «13% —
wae «18% 3 lant =
AOE 1sxdinaidtsrinw Rananndernt
anf 17% ui nS
agar
Rao 16%: wilau 8%; we
0.73
finsidou Pre 20
il
Vistaprint Shp 800. 80
Weekly Chart
Sasanvafiulauns eps
alsedailly
uns +51%
2 Oudie «44%

eps Iu 2 Wannadign +36%

ae HM 1
ale
p V
:
22
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omenn 2 tannsrgn +46%
uae 132% a eee uu AS
aque
ROE 26%
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u B%

i
Sasvdau P/E 17

338 2008,

47S
 Cree Price
Weekly Chart &
50
vidnnialulastutunaaaln
LED mouanewntuanunsel
fifinns turnaround névihun
muigins
Sasinaivleves €PS tu 5
Jmmnandagagstu eps tu 2
Tasanandaga *50% uaz +43: %
uanwny 2 lnanadngn «24% tsi as vingorgogetn
uae +24% iyeanmlasfs
hafiannunnadianufigouy
Sesnriliiount 12%
‘uitiwilau

Hh
Sasndau P/e 41
lt tun 20 ee 7505,

Priceline.com
Weekly Chart
nifiulavns EPS
inl 3 udagnia «48%,
+99% war +48%
HASAA +34%
uonnilasanasinga «21%
ROE 44%
fnvilsiound «19%
idly
dasviau P/e 15

un 7008] Sep 2008_[ dec 2008 | war 2009_[ 4un2009 [Sep Dee FOO

Baidu st S00 700"

Weekly Chart
dasnniulaves eps
vhediflu 3 ndagaiio
900%, +101% uae +92%
6S tu 2 Wanadran 112%
eninududnain
seine
uomtrinty 21
+103
ROE 45%

as oe tan ORIN ae
on
im
eis
‘volume

ra Te err i see

476
Ctrip.com 0
Weekly Chart
Snvinvnulauas ees thes
iu a Gndaqnia +30, -70%
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498
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1s atitarfunargn ‘Wajavumsttendny ‘infu Nasdaq fine

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=

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a
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ves
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Ni aa
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ft 85 vaagandmulunrsdaduey SmartSelect aasSurrainas
Taawua wa
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ve ai
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Zot wt at Bs 24,
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senda
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‘lnauraarqaanday
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16. aw nlausumrsiacedlusntwavtiunac iimnemnadnvda
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‘WwIBD yntu)
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warden
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18. sfustortunnsaciléh dmasemuqerositniaduedéon
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aeiihaienuuy “odmnesaudiny Adouaeannifulel
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vin lafuGesmamantuerl
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Au 5% ft 10% vianinndniy aawungdiuinalaeuas 501
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23. ac menewiastayunqanqavialusudiehinaiuaas
uavaciaomaunrias Cauiatudantialn 40 naaaré atin
awe a ~ i aa, S
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imqwachAyAwauwaranisdeRuWBUavisnilU

1. maallaa manuinda uazmsaransn fudaueiieluniday

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dn dinyiiqn elefioruiqreanlluanianuacirarnfiawann witew
adhafisneuiaain ‘WindusndrumiMardutansan dodauneauann
viadunuaisufjioinas woiadoumangnamaduuserntiruuarndian
‘Wuhanasfigndea i Aanads Subitlardsedatuauhinaraiy

a & ao oa we
meiezauandiseludseineaacsumiusaiwulanalal
aston fimnmanad Faugnavanaasnacaryuad Ayaan
°, = vel '

ynq aumansamauld qafaransarinstula

503
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