General Question

Steve_A's avatar

Does anyone use the CAN SLIM method?

Asked by Steve_A (5130points) August 16th, 2010

If so have you found it effective?

Or do you avoid because you find it not effective, if so why?

Also how long does it take for a newbie to get good at using it?

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7 Answers

gailcalled's avatar

What is it?

CrankMonkey's avatar

Investors Business Daily is a newspaper that has a lot of information on this investing method. I’ve looked it over and it seems reasonable to me, but I’m more attuned to value than growth, so I have not used it. It’s basically a way to invest in growth companies with momentum.

Whitsoxdude's avatar

It will probably take you from a few weeks to months depending on how often you trade.

I’m about to start trying it. It will be the first time I ever invest in stocks. I’m still learning it, but it doesn’t seem too complicated.
My dad works for IBD.

gailcalled's avatar

Personally I would never use a “Get Rich by Buying My Book about the Stock Market” book as an investment guide. The one person guaranteed to make money is the author.

I have the “gailcalled” method which has been very successful over the past 20 years.

#1 Buy large, financially conservative American companies with a dividend and a repository of cash, hold for a long time (and reinvest the dividends if possible).

#2 Put enough money into a money market fund (like Vanguard, which has a very low fee) to pay large yearly expenses…taxes, real estate taxes, mortgage, car loan, a surprise medical issue, etc.

#3: Use a Vanguard muni-bond fund for the long haul. Reinvest the dividends if possible. I use the Vanguard Triple Tax Free NYS bond fund. (Neither I nor any of my family or friends work for Vanguard.)

Why isn’t everyone rich? Does that tell you something about the complexities of playing the market? If you can generate a 4% yield after taxes these days, consider yourself lucky.

@Whitsoxdude: …it doesn’t seem too complicated. That is naive and povery-inducing. Be careful, please.

Steve_A's avatar

@gailcalled I don’t think it is a book…the CAN SLIM thing I mean.

gailcalled's avatar

Wasn’t it necessary to send money to someone in order to get the instructions? And I seem to recall a promise of 12% -14% return. That sounds hokey to me, but I have lost your link.

Whitsoxdude's avatar

@gailcalled I’m not saying don’t learn it lol. I meant it doesn’t seem that hard to learn. I don’t understand how that could possibly lead to people losing money. Unless they think I’m saying it’s so simple you shouldn’t learn it.
It’s not a book anyway, rofl.

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