In addition,Mr. O'Neil's views on other investment vehicles are extremely narrow minded. Writing Covered calls CAN I repeat CAN supplement one's income and allow one to continueously earn extra dollars on investments should your call continue to expire from month to month as long as the stock does not go belly up altogether. Covered Calls are relatively safe that they are allowed in IRA's. Mr. O'Neil was to busy looking at all the negatives that he did not bother to mention this critical positive and the the other pluses of Writing Covered Calls such as that you canbuy to cover if the stock shows more downward movement.
O'Neil's views on Mutual Funds and Charting are vague and inaccurate. One should always investigate who Manages the money in a Mutual Fund and the years experience these mangers have. This is not stated at all. To say that you must hold a Fund 10-15 years minimum is ludicrous. I've gotten plenty of mileage out of my Mutual Funds after less than five.
One of the few decent points O'Neil makes involves the CANSLIM method. It is outlined accurately so one can do their own research into those areas. It would have been nice if Mr. O'Neil gave some specific examples on how CANSLIM would have worked with a good stock like IBM or Exxon. Instead O'Neil merely throws charts at his audience and oversells the Investors Business Daily. Don't get me wrong, his paper is quite good but if I want to believe in an investment book, I don't want to be sold on a Newspaper.
A few years ago, O'Neil's strategy might have had some merit. Today it just sounds like the ramblings of a angry old windbag who has lost alot of touch with today's investor.
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