《股票作手回忆录》PREFACEbyWilliamO'Neil(6)

This new edition of the investment classic not only contains interesting illustrations but also includes a 1920s Saturday Evening Post article by the author that was not included in the original book. My original copy of Reminiscences is now dog-eared and has notes from different colored pens from the several times I read and reread it over the years. Years ago, I purchased a library of over a thousand stock market and investment books. However, in my 45 years of experience in this business, I have only found 10 or 12 books that were of any real value-Reminiscences is one of them.
The stock market is difficult for most investors because it works in precisely the opposite way of how a normal,intelligent person tends to think and react. People want to buy something that looks cheap, is down in price, and appears to be a bargain. This rarely works because the stock is usuallydown for a good reason. People also do not realize that no matter how smart they are,they will make many mistakes. Investors potentially must habitually cut short every loss to keep all their mistakes small and avoid enormous losses later on.Others want to make money the easy way,without doing any homework or by simply relying on the tips,rumors，or advice of others. This is a national shame. America is a land of great opportunity,unlimited new ideas，and relentless new entrepreneurs,investors，and business people. Every year there are initial public offerings by highly motivated new entrepreneurs who run unique businesses.In time, a few of these could become excel-lent investments of which anyone can learn to take advantage if they just save a little money and read the best investment books around.These books are written by people who have been in the battlefield and have learned how to profitably select America"s very best companies. Usually the very best in anything comes at a higher price.