The Oracle of Ohio

 

Recently, there was an insightful CNN Money article profiling investor Paul Glandorf, “The Oracle of Ohio.” Mr. Glandorf is a self-taught investor who has achieved considerable success in his post-retirement investing career. In 2013, he ended the year with a 57% overall return and a second place finish and 71% gain in an investment competition. He credits much of his success to his investment strategy of looking “at the fundamentals and the technicals of a stock” and research routine using the MarketSmith screener.

When someone reads an article like this, it can inspire or even cause envy. But the main takeaway should be that learning how to read charts or the market, and recognizing what to look for in winners is not an overnight process. The average investor wants ideas handed to them; MarketSmiths like Mr. Glandorf have the patience to learn how the market works, the dedication to develop a sound investing routine, and the experience to separate emotions from trading.

So the next time you get frustrated with the market, remember that even the most successful investors have good and bad trades. As students of the market, post-analysis is part of our continuing education. Learning from successes and failures help us improve and develop an instinct for the market and stock behavior.

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