William O’Neil studied business at Southern Methodist University and earned a bachelor’s degree. He later served in the US Air Force. In 1958 O’Neil started his career as a stockbroker at Hayden, Stone & Company and in 1960, he was accepted to the Harvard Business School’s first Program for Management Development.
At age 30 William O’Neil bought a seat on the NYSE (the youngest at that time ever to do so). In 1963 he founded William O’Neil Co. Inc., a company which developed the first computerized daily securities database in 1963/1964.
In 1972, Daily Graphs was created by William O’Neil as a printed book of stock charts delivered weekly to subscribers.
O’Neil currently runs a successful investment advisory company and is also the creator of the CAN SLIM growth investment strategy, which has been endorsed by the American Association of Individual Investors as the top performing investment strategy from 1998 to 2009.
In 1963 he founded William O’Neil Co. Inc., a company which developed the first computerized daily securities database in 1963/1964.
William O’Neil combines a mixture of both quantitative and qualitative strategies and he focuses on growth stocks with a potential to quickly rise. O’Neil cuts his losses early and likes to ride his wins.
“I make it a rule to never lose more than 7 percent on any stock I buy. If a stock drops 7 percent below my purchase price, I will automatically sell it at the market – no second-guessing, no hesitation”,
“The whole secret to winning in the stock market is to lose the least amount possible when you’re not right.”
William O’Neil also believes in doing your homework. He studied historical chart patterns relentlessly and has read thousands of trading books.
“90% of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework.”
William O’Neil is also a believer in making a trading plan and sticking to it.
“Some investors have trouble making decisions to buy or sell. In other words, they vacillate and can’t make up their minds. They are unsure because they really don’t know what they are doing. They do not have a plan, a set of principles, or rules to guide them and, therefore, are uncertain of what they should be doing.”
O’Neil sees trade volume in a stock as a big clue.
“When a stock pulls back in price, you want to see volume dry up, indicating no significant selling pressure. When it rallies you want to see volume rise, which usually represents institutional buying,” said O’Neil.
90% of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework – William O’Neil
William O’Neil currently conducts investing seminars throughout the US.
O’Neil is the author of How To Make Money In Stocks” by William J. O’Neil (1988), “24 Essential Lessons For Investment Success” by William J. O’Neil (1999) and “The Successful Investor” by William J. O’Neil (2003)
The whole secret to winning in the stock market is to lose the least amount possible when you’re not right – William O’Neil
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