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2006 reprint of 1960 edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Hungarian by birth, Nicolas Darvas trained as an economist at the University of Budapest. Reluctant to remain in Hungary until either the Nazis or the Soviets took over, he fled at the age of 23 with a forged exit visa and fifty pounds sterling to stave off hunger in Istanbul, Turkey. During his off hours as a dancer, he read some 200 books on the market and the great speculators, spending as much as eight hours a day studying.Darvas invested his money into a couple of stocks that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a large profit. His main source of stock selection was Barron's Magazine. At the age of 39, after accumulating his fortune, Darvas documented his techniques in the book, How I Made 2,000,000 in the Stock Market. The book describes his unique "Box System", which he used to buy and sell stocks. Darvas' book remains a classic stock market text to this day.
E-Book Content
HH How I Made $2,000,000 In The Stock Market by Nicolas Darvas American Research Council Larchmont – New York 2 Copyright © 1960, by Nicolas Darvas ALL RIGHTS RESERVED, INCLUDING THE RIGHT TO REPRODUCE THIS BOOK OR PORTIONS THEREOF IN ANY FORM First printing, June 1960 Second printing, June 1960 Third printing, June I960 Distributed to the trade by The Citadel Press Library of Congress Catalog Card No. 60-12740 Designed by Ella Mazel Manufactured in The United States of America by The Haddon Craftsmen, Inc. 3 Publisher’s Foreword How This Book Came to Be It was in the issue of May 25, 1959, that Time Magazine devoted almost a full page in its Business Section to the extraordinary stockmarket story of a dancer— Nicolas Darvas. Time told how this complete non-professional, ". . . who ignores tips, financial stories and brokers' letters," was able to make himself a millionaire several times over through the investment methods he developed. This article raised a lot of eyebrows among Wall Streeters who were shocked by Mr. Darvas’ disregard for many of the long-accepted, ordinary investment practices to which they were accustomed. But it also fired the interest and imagination of thousands of investors across the country. We at the AMERICAN RESEARCH COUNCIL, publishers of many of the most widely-used and authoritative investment and business guides, were also impressed by Time's brief outline of Mr. Darvas' successful investment methods. As a result, we decided to approach Mr. Darvas about writing a book describing his techniques. This was not easy—to find him, our chief editor had to track him down in Paris where he and his partner, Julia, were starring on a French television program. There we discovered the remarkable set of circumstances that were to make this unique book possible. First, Mr. Darvas is a showman. His dance act is one of the most exciting international acts in show-business history, and he and his sister Julia have starred in some 34 countries. He is accustomed to being constantly in the spotlight of public attention. Therefore, he had no hesitation, as might many private individuals, in making public the details of the stock transactions, which went into his making a fortune. Perhaps never before in history has any individual so fully exposed his financial dealings to the public eye. Second, it turned out that Mr. Darvas is far more than a spectacular dancer. He is a highly literate individual with a solid background in economics and sociology gained at the University of Budapest; a former sportswriter, journalist and crossword-puzzle editor in his native country; and therefore thoroughly qualified to write a book. 4 As a result, the COUNCIL now take