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Alchemy of Self | 1' - 10' Deep Dives

5' - Being Right or Making Money

09 Jan 2025

Description

Ned Davis's Being Right or Making Money emphasizes a disciplined, data-driven approach to investing, prioritizing process over prediction. The book argues that consistent profitability stems from robust risk management and a systematic methodology using objective indicators, rather than market timing. Key concepts include humility, acknowledging market complexity; a rule-based process for decision-making; and a focus on capital preservation. Davis uses examples including tape, monetary, sentiment, economic, and valuation indicators to illustrate his points. Ultimately, the book promotes building a resilient investment strategy adaptable to various market conditions.

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