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If It’s Raining in Brazil, Buy Starbucks by Navarro

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CHAPTER 5THE EIGHT PRINCIPLES OF MACROWAVE INVESTING

Robert Fisher has two passions: chess and stock trading. Because he’s good at one, he’s also good at the other, and today, he’s about to make a lot of money because he sees the whole stock market chessboard and thinks many moves ahead.

Robert’s gambit will be to buy a thousand shares of Northwest Airlines. Why? Because minutes ago, the King of the Friendly Skies, United Airlines, announced that it would purchase a very valuable pawn, U.S. Air. This will make United the largest air carrier in the world—and truly a King.

Upon the news, traders immediately begin scrambling to buy shares of U.S. Air, but Robert knows that most of these “checker players” will wind up paying far too much for their ...

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