Being Right or Making Money

About the Author:

A Phi Beta Kappa graduate of the University of North Carolina at Chapel Hill, who attended the Harvard Graduate School of Business, Ned Davis has been professionally involved in the stock market since 1966. The institutionally oriented Ned Davis Research, based in Venice, Florida, produces nine different timing services, and has built one of the largest independent research firms on Wall Street.

Excerpt. © Reprinted by permission. All rights reserved.:

...So as I studied other long-term winners on Wall Street, I found that instinctively or otherwise, they had come to the same conclusions that I had. While the methods of Warren Buffet, Peter Lynch, or John Tempelton have been very different from my market-timing orientation, the fact is that all of these men have been very humble, made a lot of mistakes, and rarely if ever get headlines about a spectacular call. Yet, they all use objective methods for picking stocks, their investment philosophy is very disciplined and designed to limit risks, and they are flexible when they must be.

So this book is not designed to challenge those of you who are long-term fundamentalists or short-term technicians. Instead, you will be shown some tools that hopefully will help you to be more "right" more often. But much more importantly, this book will show you that being right is not really where it's at, since at least as much of your focus should be on risk management tactics, a disciplined strategy, and flexibility...

...Thus, the bottom line at Ned Davis Research is that our timing models, at every stage of development, are designed with one thought in mind, and that is "controlling big mistakes."...

...I feel strongly that if you are objective, disciplined, flexible, and risk averse, the methods presented in this book can turn you into a money-making machine.

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