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I'm always hearing stories of folks who hit it big overnight in the stock market.
They sound great, but the problem is most of them are... just stories. I've been in the markets for decades now. I spent more than 20 years as a broker, and I'm fortunate enough to have friends and associates that are among the very best traders and investors on the planet.
I've seen firsthand what happens to the people who swing for the fences every at-bat. Sure, they might hit occasionally, but when they do, it's not skill - or superior knowledge.
Most of the time... It's just luck. Even worse, most of the time that stroke of good luck is just a harbinger of really bad, bad things just around the corner.
Take this former client of mine who made a small but enviable fortune during the dot-com boom...
About the Author
Tim Melvin is an unlikely investment expert by any measure. Raised in the "projects" of Baltimore by a single mother, he never attended college and started out as a door-to-door vacuum salesman. But he knew the real money was in the stock market, so he set sights on investing - and by sheer force of determination, he eventually became a financial advisor to millionaires. Today, after 30 years of managing money for some of the wealthiest people in the world, he draws on his experience to help investors find "unreasonably good" bargain stocks, multiply profits, and build their nest eggs. Tim tirelessly works to find overlooked "hidden gems" in the stock market, drawing on the research of legendary investors like Benjamin Graham, Walter Schloss, and Marty Whitman. He has written and lectured extensively on the markets, with work appearing on Benzinga, Real Money, Daily Speculations, and more. He has published several books in the "Little Book of" Investment Series and a "Junior Chamber Course" geared towards young adults that teaches Graham's principles and techniques to a new generation of investors. Today, he serves as the Special Situations Strategist at Money Morning and the editor of "Max Wealth" and Heatseekers.
Nice one!