The first statement of Richard
Anyone who buys or sells stocks, bonds or commodities for profit – a speculator, but only if he enjoys the intellectual foresight. If he does so, he just plays in gambling.
Richard D. Vaykoff (Wyckoff), American pioneer of technical analysis of shares.
The first statement of Richard Vaykoffa studying his method of stock analysis, published in the thirties, was quite simple and specific – forget everything ever used the decision factors. All you need to know is in the table of prices and volumes of shares in your daily newspaper.
With this approach, a return to basics Vaykoff promised to show his students the “real rules of the game, in which so deftly played by wealthy investors with sufficient capital in the market.
Despite the fact that it is difficult to imagine anything, especially the technology stock market, remain viable in the thirties to the present time “method of trading and investing in stocks” by Richard Vaykoffa passed through time, becoming a classic. Although in our computerized time is no shortage of magical techniques, technology Vaykoffa provides a firm basis for the analysis of fundamental relationships among the initial forces of the market. In this respect it is like pearls on a black dress in a woman’s wardrobe. This ornament, which will never become obsolete.