正文
The goal of macrowave investing is to maximize gains for a given risk level while minimizing losses and preserving capital. To achieve this goal, the macrowave investor must understand these eight principles, which are the foundations of macrowave investing.
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1. Speculate but never gamble.
2. Distinguish clearly between market risk, sector risk, and company risk. Use the principles of macrowave investing to diversify and minimize these risks.
3. Ride the train in the diretion it is going. Go long, short, or flat as the situation demands.
4. Ride the appropriate train. Don't limit your perspective to the stock market. Learn to observe, and perhaps even trade in, the bond and currency markets as well.
5. Macroeconomics is the most important determinant of a bullish or bearish market trend, and the trend is your friend. Never buck the trend.
6. Within the stock market, different industry sectors react very differently to good and bad macroeconomic news. The macrowave investor buys strong stocks in strong sectors in up trends and shorts weak stocks in weal sectors in down trends.
7. The stock, bond, and currency markets likewise react very differently to macroeconomic news. The macrowave investor knows that movements in one market can often presage movements in others and watches each of these markets carefully.
8. Don't play checkers in a chess world. Macroeconomic events affeting one particular company or sector invariably have spillover effects that wash over other companies, sectors, or markets. To see these effets, the macrowave investor must become a chess player, looking as many moves ahead as possible.
****
1. Speculate but never gamble.
2. Distinguish clearly between market risk, sector risk, and company risk. Use the principles of macrowave investing to diversify and minimize these risks.
3. Ride the train in the diretion it is going. Go long, short, or flat as the situation demands.
4. Ride the appropriate train. Don't limit your perspective to the stock market. Learn to observe, and perhaps even trade in, the bond and currency markets as well.
5. Macroeconomics is the most important determinant of a bullish or bearish market trend, and the trend is your friend. Never buck the trend.
6. Within the stock market, different industry sectors react very differently to good and bad macroeconomic news. The macrowave investor buys strong stocks in strong sectors in up trends and shorts weak stocks in weal sectors in down trends.
7. The stock, bond, and currency markets likewise react very differently to macroeconomic news. The macrowave investor knows that movements in one market can often presage movements in others and watches each of these markets carefully.
8. Don't play checkers in a chess world. Macroeconomic events affeting one particular company or sector invariably have spillover effects that wash over other companies, sectors, or markets. To see these effets, the macrowave investor must become a chess player, looking as many moves ahead as possible.
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