The Scientific Methods of a Wall Street Legend
By John Persinos
It's the day after the July 4 holiday and the markets have resumed normal trading hours. But volume is light as millions of Americans head to the beach. Now's a good time for a "big picture" analysis.
For today's Mind Over Markets column, I decided to pick the brain of Jim Fink [pictured]. He's chief investment strategist of the premium trading services Options for Income, Velocity Trader, and Jim Fink's Inner Circle.
And what a brain it is. Hopelessly over-educated, Jim holds a bachelor's degree from Yale University, a master's degree from Harvard's Kennedy School of Government, a law degree from Columbia University, and an MBA from the University of Virginia's Darden School of Business.
For good measure, Jim has been a member of the Illinois and D.C. legal bars.
This guy is a legend. And when he speaks, the rest of his colleagues at Investing Daily listen. Let's dive right into my interview with him. My questions are in bold.
Most investors are used to investing through common stock—but you've been taking a different approach for decades. Explain to readers, in simple terms, why?
I don't trade regular stocks because of the high costs.
What I've found is that I'm able to earn the same, or more, in profits by spending a fraction of the investment costs of common stocks.
Think about it: a rate of return is the dollars of profit divided by the dollars at risk.
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