John Train
Description
The long-awaited revision to John Train's classic Dance of the Money Bees--
Survival is competition. What you have, including your savings, others wan
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t, and will struggle to get. The push to take it back from you is as relentless as that of the sea to overcome the dikes that contain it or the jungle to enfold a patch of cleared ground. The whole order of nature pushes to reclaim its own. Only through deep understanding and superior tactics can the investor hope to preserve even part of what he has earned, and it gets harder every year
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In preserving capital the right attitude is indispensable. You must be passive in deciding to buy, but aggressive in searching out the values and in digging all the way down to the rock of reality
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It usually pays to wait patiently for the rare bargain in first-class assets, rather than keep swinging for the fences with a succession of exciting speculations. Enthusiastic hyperactivity is in fact the hallmark of the losing investor
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This book, then, is intended to tell the investor what he should be looking for and where to find it.
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