The Most Successful Investor Of The 90′s Says There Is No Market Bubble

Dan Zanger did the unbelievable.

He turned 18K into $42 million, in under two years, during the height of the 90′s bubble market.  He doesn’t think this market is like that one….yet.

“There is certainly some frothy behavior, with many stocks overpriced, while others are priced to perfection, ” says Zanger. “However, this market is far from the ‘bubble’ behavior that we saw in 1998-2000.”

Zanger knows what he’s talking about, having cut his teeth in the markets, with various degrees of success, in the early ’90s. But it wasn’t until he became a student of William O’Neil’s CAN SLIM method, which looks for stocks with strong fundamentals and technically significant chart patterns, that he catapulted to the rarefied heights of the investing world.

Beginning in June of 1998, Zanger spent 18 months turning $10,775 into $18 million — an unofficial world record for stock market investing — which translates into a mind-blowing 164,000 percent return (and yes, he has the tax returns to prove it).  Just five months later, as the bubble was getting ready to burst, that same account had grown to a massive $42 million dollars, a feat that Trader Monthly ranked among its 20 Greatest Trades of All Time.

Click the link below to read the rest of the story.

Is the Stock Market Really About to Pop?  Why One “Bubble” Legend Says No! (DailyFinance)

Brilliant stuff like this rains down like..well, rain, on my stream during the week.  If you want to get wet, follow me on Twitter and StockTwits.  You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.  All proceeds go to fight pediatric brain cancer.

Brilliant stuff like this rains down like..well, rain, on my stream during the week. If you want to get wet, follow me on Twitter and StockTwits. You can also pick up my book Trading – The Best of the Best: Top Trading Tips For Our Times by clicking here.

One Response

  1. Brian, I read the article on my ride home from work yesterday. Dan’s quote “”Back then, you had stocks doubling in two days and some tripling in just five days…” came to mind when I saw all the stocktwits fuss about $ICPT today. Could that be one of the examples of crazy price action to watch for?

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