James ‘RevShark’ DePorre, a respected investment strategist, advocates for a departure from conventional Wall Street wisdom that espouses ‘buy and hold’ strategies for stocks. Instead, he encourages investors to adopt a proactive approach akin to that of a ‘shark,’ taking charge of their portfolios through active investment.
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5 investment tips to succeed in the long run
DePorre asserts that individual investors frequently relinquish this advantage by choosing to remain passive and not reacting to market volatility. He outlines the five most crucial lessons he’s gleaned from his 25 years of trading experience, which he believes can empower investors to succeed in their investment endeavors.
THE ECONOMIC TIMES
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Profits occur sporadically
DePorre emphasizes the cyclical nature of the market, which experiences fluctuations of varying degrees irregularly over time. He warns investors that a trading style effective at one point may not endure indefinitely. Ignoring this reality could lead to a short-lived career in trading.
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Predictions and forecasts are a waste of time
DePorre reflects on his career, noting the abundance of market predictions and forecasts he’s encountered, the majority of which have been inaccurate or poorly timed, rendering them useless. He observes that Wall Street thrives on making predictions and forecasts, as it aligns with their business model, aiming to convince customers of their superior ability to foresee the future compared to others.
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Keep your accounts as close to highs as possible
DePorre emphasizes the inefficiency of trying to recover from losses, noting that when investors lose half of their capital, they must double it to merely break even. He suggests that investors who are dedicated to maintaining their portfolio near its highs will ultimately outperform in the long term.
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DePorre contends that investors frequently underestimate the value of charts and tend to dismiss them for portfolio analysis. He argues that charts can be invaluable tools for analysis, offering a structured framework that promotes discipline in decision-making.
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No trading approach is inherently superior
DePorre asserts that there is no single best approach to trading in the market. He notes that different investors employ various strategies and still achieve success. “Some people do very well with following the trend and momentum. Others do equally well with value plays and fundamentals. What works best will depend on how you view the market and the methodology you use to protect capital and find new stocks to buy,” he explains.(Disclaimer: This article is based on James ‘RevShark’ DePorre’s book Invest Like a Shark and his market columns in Jim Cramer’s RealMoney.com)
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