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Leadership in Action: Inklings - Wall Street Rules That Have Made Some People Rich ... Sometimes by David P. Campbell

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INKLINGS

Wall Street Rules That Have Made Some People Rich . . . Sometimes

David P. Campbell

Approximately twenty years ago, during the late seventies, I gave a presentation to a group of managers at an East Coast conference center. When I went to the room early in the morning to check the setup, I found a leftover handout from the previous day. It had the following rules on it. It was neither dated nor signed, and had no identifying information of any kind.

1. Nobody has been right three times.

2. Turnarounds take seven years.

3. Buy in haste, repent in leisure.

4. Sell the stock when the company announces a new corporate headquarters.

5. Sell the stock when it runs off the top (or bottom) of the chart.

6. When everybody likes a stock, it ...

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