DOCSLIB.ORG

Capital Compounders How to Beat the Market and Make Money Investing in Growth Stocks Revised & Expanded Second Edition

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Capital Compounders How to Beat the Market and Make Money Investing in Growth Stocks Revised & Expanded Second Edition Capital Compounders How to Beat the Market and Make Money Investing in Growth Stocks Revised & Expanded Second Edition Robin R. Speziale National Bestselling Author, Market Masters [email protected] | RobinSpeziale.com Copyright © 2018 Robin R. Speziale All Rights Reserved. ISBN: 978-1-7202-1080-1 DISCLAIMER Robin Speziale is not a register investment advisor, broker, or dealer. Readers are advised that the content herein should only be used solely for informational purposes. The information in “Capital Compounders” is not investment advice or a recommendation or solicitation to buy or sell any securities. Robin Speziale does not propose to tell or suggest which investment securities readers should buy or sell. Readers are solely responsible for their own investment decisions. Investing involves risk, including loss of principal. Consult a registered professional. CONTENTS START HERE vi INTRODUCTION 1 1 How I Built a $300,000+ Stock Portfolio Before 9 30 (And How You Can Too!) My 8-Step Wealth Building Journey 2 Growth Investing vs. Value Investing 21 3 My 72 Rules for Investing in Stocks 28 4 Capital Compounders (Part 1/2) 77 5 Next Capital Compounders (Part 2/2) 88 6 Think Short: Becoming a Smarter Investor 96 7 Small Companies; Big Dreams 106 8 How to Find Tenbaggers 123 9 How I Manage My Stock Portfolio and Generate 131 Outsized Returns – The Three Bucket Model 10 How This Hedge Fund Manager Achieved a 141 24% Compound Annual Return (Since 1998!) 11 100+ Baggers – Top 30 Super Stocks 145 12 Small Cap Ideas – Tech Investor Interview 150 13 Knowing More Than Everyone Else 155 14 Keynesian Beauty Contest 157 15 Big Error of Omission 162 16 My Daily Routine 167 17 Interview with a Growth Hedge Fund Manager 173 18 Key Events That Move Stocks 193 19 Future Predictions 197 20 My Universe of Growth Stocks 204 CONCLUSION 217 ADDITIONAL WISDOM FOR YOUNG 224 PEOPLE JUST STARTING OUT BONUS – MY DIY INVESTOR FRIENDS 228 SHARE THEIR GROWTH INVESTING STORIES, TIPS & STRATEGIES 100+ DIY INVESTOR RESOURCES 272 ABOUT THE AUTHOR 278 ACKNOWLEDGEMENTS 279 BUY MARKET MASTERS 280 SUBSCRIBE (DON’T MISS ANYTHING) 283 2 START HERE Thank you for reading Capital Compounders. If you have the eBook version, please pick-up the Paperback on Amazon too – I think it will look great on your bookshelf! I’ve been picking stocks since 2005, and it’s certainly been a fun, humbling, and rewarding journey. Along the way I write books, blogs, newsletters, and do other things to help you – the DIY Investor – on your own journey. Learn More: READ: Market Masters, Blog SUBSCRIBE: Newsletter, YouTube Channel JOIN: Club, Patreon CONTACT: Email, Twitter Go to RobinSpeziale.com for all of this and more… “Whatever the mind of man can conceive and believe, it can achieve” – Napoleon Hill v i INTRODUCTION love the stock market. It’s like a treasure hunt – digging deep, trying to find the winning stocks among I all the others. I’ve been investing in stocks since 2005 (13+ years), and building wealth throughout this fascinating, humbling, and rewarding journey. I’m just like you – a Do-it-Yourself (DIY) Investor – and similar to most DIY investors, Warren Buffett was my first teacher. But then I discovered Philip Fisher and Peter Lynch, and their respective books; Common Stocks and Uncommon Profits, and One Up On Wall Street. So while value investing provided me with a foundation early on, it was both Fisher and Lynch’s teachings on growth investing that shaped me, and my stock portfolio for years to come. I don’t see this changing in the foreseeable future. I am a growth investor. Investing in publicly-traded growth companies helped me build a $300,000+ portfolio before 30. Today it’s closer to $500,000 and my portfolio goal for age 35 is $1,000,000. Interestingly, if I can maintain a 15% compound annual return in my portfolio from age 30 – 85 (55 years), that $1,000,000 can turn into $1,000,000,000 (yes – possibly $1 Billion!). That’s without the infusion of new money – from 1 2 INTRODUCTION capital appreciation alone. Compounding is a wonderful thing. In reality this is wishful thinking. Building wealth takes patience, and one must remain active in the market and allocate capital to new wealth-creating opportunities over time, in order to continually achieve an above average compound return. But I’m a dreamer. How a 15% Compound Annual Return Can Turn $500,000 into $1,000,000,000 in 55 Years (rough math – portfolio doubles every ~ 5 years using the rule of 72): Age Portfolio 30 $500,000 35 $1,000,000 40 $2,000,000 45 $4,000,000 50 $8,000,000 55 $16,000,000 60 $32,000,000 65 $64,000,000 70 $128,000,000 75 $256,000,000 80 $512,000,000 85 $1,024,000,000 For starters, what I will share with you in this book is how you can also build an achievable $300,000+ portfolio (and possibly more), by investing intelligently in growth stocks. Anyone can make money in stocks; the market doesn’t care about the colour of your skin, your culture, or sex. However, there’s some important things you need to CAPITAL COMPOUNDERS 3 first learn about the stock market, otherwise you’ll find yourself fighting in a treacherous battlefield. You must not only master the market, but most important – your own doubts, biases, and behaviour. I wrote this book to be the guide in your DIY investing journey. If you’ve been reading my free investment newsletter on RobinSpeziale.com/Subscribe (there’s 3,500+ subscribers; join now!), you’ll know that I call the top growth stocks “Capital Compounders”. Stocks that double, then double again, and again… achieving tenbagger ($1 turns into $10), 100-bagger ($1 turns into $100), and 100+ bagger returns. Think Apple, Netflix, and Amazon. Investing in future Capital Compounders is the goal. But let’s be honest – it can tough. There’s so many stocks (1,000s) trading on multiple exchanges, in various countries around the world. Plus, identifying a future Capital Compounder is not a binary process, where if a company checks off all of these boxes it’s a winner, and if it doesn’t, it’s a loser. Most Capital Compounder companies start out as new ideas, centered around a disruptive product and / or service, with a pioneering Founder / CEO at the helm who successfully executes the company’s grand but achievable vision. But by no means is this the definitive mix of winning factors. Bagging the big winners is not formulaic, nor is it easy. The discovery, and stock selection process involves a whole lot of intuition and luck, as much as it requires intellect and hard work. Imagine buying Amazon in 1997 (IPO), and having both the conviction and wherewithal to hold the stock through its ups and downs (-50% + drops in the stock in multiple years). You would have had to either 4 INTRODUCTION be crazy, genius, or you simply forgot to login to your brokerage account for all those years. But holding Amazon from 1997 until 2018 would have made you a multimillionaire. That’s why investing is more an art than it is a science, and why it’s possible that virtually anyone can make money in the stock market – sometimes the most unassuming ones. Luckily for me, successful investing doesn’t require a Mathematics degree, 180 IQ, or any special certifications (e.g. CFA). This is not widely known but many of the world’s top investors do not hold conventional degrees for the world of finance. You will find B.A.s (Bachelor of Arts) among the degrees of famous investors, and hedge fund managers. Case in point: Warren Buffett earned a B.A. in economics, and then was rejected for enrollment by the Harvard Business School. “I spent 10 minutes with the Harvard alumnus who was doing the interview, and he assessed my capabilities and turn me down”, said Buffett years after being rejected by Harvard. Today, Warren Buffett’s net worth is north of $90 Billion, making him one of the richest people in the world. These are some of the other notable investors who hold (“only”) a B.A. degree: Bill Gross (B.A. in psychology) George Soros (B.A. in philosophy) Carl Icahn (B.A. in philosophy) Peter Lynch (B.A. in history, psychology, classics, and philosophy) Bill Ackman (B.A. in history) I repeat – anyone can make money in stocks. But the top investors continually pick more winners than losers, beat CAPITAL COMPOUNDERS 5 the market over time, and stick through the good times and the bad times in the market. I’ll cover some of the top growth investors’ principles, and investing strategies through this book that you can apply in the stock market. You will also learn what the commonalities are among today’s top growth stocks (Small / Mid / Large Caps), and emerging growth stocks (Micro Caps) so that you can more easily find the future Capital Compounders – whether that’s in 2018 (when this book was published), 2020, or 2050. For background, I gave this book the same title as my talk from the Fairfax Financial Shareholder’s Dinner (April, 2017), where I shared with the audience my selection of 25 market-beating stocks (Capital Compounders) and their outstanding managers / owner- operators (“capital allocators”). This outperforming group of companies had over the long run (average 15+ public years) compounded capital at exceptionally high rates, in turn generating vast amounts of wealth for their shareholders.
Load more

Recommended publications
  • Financial Performance: a Macroeconomic and Leverage View
    Financial Performance: A Macroeconomic and Leverage View Mudassar Hasan*, Gul Rukh**, Rizwan Ali***, and Ramiz-Urn-Rehman**** Abstract The study has been conducted to explore the relationship between financial leverage and financial performance. The study also involves macroeconomic perspective by involving few macro variables like interest rate. It has been conducted on the Non-Financial sector of Pakistan including all non-financial companies listed at Karachi Stock Exchange (KSE) as a sample. The study has been conducted over a period of seven years, 2005 through 2011. Regression analysis has been performed in order to analysis the data. The results of the study exhibit that financial leverage, measured by Debt to Equity ratio has significant impact on financial performance variables, measured by Return on Assets and Return on Capital, whereas on the other two variables, Return on Equity and Earnings Per Share, its effect is insignificant. On the other hand two variables namely Gross Domestic Product and Interest Rate were used as indicators of overall economy and their impact was also studied on financial performance. The results show that their effect on financial performance is insignificant. Combining all the results together it can be concluded that financial performance is majorly determined by firm’s choice of financial leverage and not by the overall health of the economy specifically in context of non-financial firms in Pakistan. Key Words: Capital Structure, Financial Performance, Return on Equity, Asset & Capital. Introductions Capital structure is method for assessment building of business firms, and facilitates maximization of return resting on investment, as well as boosts the effectiveness of financing and payment decisions.
    [Show full text]
  • Securities Market Structure and Regulation
    INTRODUCTION In beginning this symposium on the structure and regulation of the securities markets, I’m sure we will all keep in mind George Santayana’s caution that: “Those who cannot remember the past are condemned to repeat it.”1 Although enormous changes have taken place over the past few decades, we keep hearing echoes of the past. When the London Stock Exchange (LSE) switched from floor-based to electronic trading exactly twenty years ago, it decided that the transformation might be too traumatic for its members, so it adopted a hybrid market—an electronic market combined with traditional floor trading. The hybrid market lasted just over four months, at which time the LSE closed its floor for trading in equities. Will the New York Stock Exchange’s experience with its new hybrid market be the same or different? The Consolidated Limited Order Book (CLOB), which I expect will be discussed today, was first proposed to the SEC thirty years ago by Professor Peake, one of today’s speakers, in 1976, a year after Congress told the SEC to create a national market system. The CLOB, which would execute investors’ orders electronically under a rule of time and price priority, seemed to him the best way to assure best execution of investors’ orders throughout the national market system. In 1978, the SEC told the exchanges to create a CLOB. A year later the Commission had second thoughts: it feared that a CLOB would lead to the elimination of exchange trading floors by inexorably forcing all trading into a fully automated trading system.
    [Show full text]
  • Citigroup: a Case Study in Managerial and Regulatory Failures
    CITIGROUP: A CASE STUDY IN MANAGERIAL AND REGULATORY FAILURES ARTHUR E. WILMARTH, JR.* “I don’t think [Citigroup is] too big to manage or govern at all . [W]hen you look at the results of what happened, you have to say it was a great success.” Sanford “Sandy” Weill, chairman of Citigroup, 1998-20061 “Our job is to set a tone at the top to incent people to do the right thing and to set up safety nets to catch people who make mistakes or do the wrong thing and correct those as quickly as possible. And it is working. It is working.” Charles O. “Chuck” Prince III, CEO of Citigroup, 2003-20072 “People know I was concerned about the markets. Clearly, there were things wrong. But I don’t know of anyone who foresaw a perfect storm, and that’s what we’ve had here.” Robert Rubin, chairman of Citigroup’s executive committee, 1999- 20093 “I do not think we did enough as [regulators] with the authority we had to help contain the risks that ultimately emerged in [Citigroup].” Timothy Geithner, President of the Federal Reserve Bank of New York, 2003-2009; Secretary of the Treasury, 2009-20134 * Professor of Law and Executive Director of the Center for Law, Economics & Finance, George Washington University Law School. I wish to thank GW Law School and Dean Greg Maggs for a summer research grant that supported my work on this Article. I am indebted to Eric Klein, a member of GW Law’s Class of 2015, and Germaine Leahy, Head of Reference in the Jacob Burns Law Library, for their superb research assistance.
    [Show full text]
  • Baker Library Core Collection by Author Generated 3/4/2011
    Baker Library Core Collection By Author AUTHOR TITLE Call Number Aaker, David A Brand leadership HD69.B7 A215 2000 Aaker, David A Brand portfolio strategy : creating relevance, differentiation, energy, leverage, and clarity HD69.B7 A2154 2004 Aaker, David A Building strong brands HD69.B7 A216 1996 Aaker, David A Strategic market management HF5415.13 .A23 2005 Abbott, Andrew Delano Methods of discovery : heuristics for the social sciences H61.15 .A23 2004 Abbott, Jeffrey Uniting North American business : NAFTA best practices HF1746 .A23 2002 Abdelal, Rawi, 1971- Capital rules : the construction of global finance HG3881 .A23 2007 Abernathy, William J The productivity dilemma : roadblock to innovation in the automobile industry HD9710.U52 A25 1978 Abrahamson, Eric John Change without pain : how managers can overcome initiative overload, organizational chaos, and employee HD58.8 .A265 2004 burnout Abrams, Rhonda M The successful business plan : secrets & strategies HD62.5 .A344 2003 Adair, Troy A. (Troy Alton), 1964- Excel applications for corporate finance HG4012.5 .A33 2005 Adams, Cary W., 1946- Six Sigma deployment TS156 .G865 2003 Afifi, A. A. (Abdelmonem A.), 1939- Computer-aided multivariate analysis QA278 .A33 2004 Afuah, Allan Business models : a strategic management approach HD30.28 .A347 2004 Afuah, Allan Innovation management : strategies, implementation and profits HD58.8 .A394 2003 Aguilar, Francis J. (Francis Joseph) Managing corporate ethics : learning from America's ethical companies how to supercharge business HF5387 .A4
    [Show full text]
  • Cornell Alumni News
    VOL. XX., No. 11 [PRICE TEN CENTS] DECEMBER 6, 1917 Hundreds of Applicants for the Officers' Training Camps List of Faculty Members in the National Service An Undergraduate Demand for Higher Scholarship Standards Two More Cornell Men Receive the War Cross Pennsylvania 37, Cornell 0 ITHACA, NEW YORK CORNELL ALUMNI NEWS The Farmers' Loan and Herbert G. Ogden Jas. H. Oliphant & Co. E. E., '97 Trust Company ALFRED L. NORRIS, FLOYD W. MUNDY '98 Attorney and Counsellor at Law J. NORRIS OLIPHANT Όl 16, 18, 20, 22 William St., New York Patents and Patent Causes J. J, BRYANT, jr., '98, FRANK L. VAN WIE Branch, 475 Fifth Ave. 120 Broadway New York Members New York Stock Exchange T Λxrτϊr»xr ί 16 Pal1 Mal1 East» S W 1 and Chicago Stock Exchange LONDON \ 26 Old Broad Street, E. C. 2 PARIS 41 Boulevard Haussman Going to Ithaca? New York Office, 61 Broadway Chicago Office,711 The Rookery LETTERS OF CREDIT Use the "Short Line" FOREIGN EXCHANGES between CABLE TRANSFERS Auburn (Monroe St.) and Ithaca Cascadilla School The Leading Better Quicker Cheaper Direct connections at Auburn with Preparatory School for Cornell New York Central Trains for Syra- Located at the edge of the University Do You Use cuse, Albany and Boston. campus. Exceptional advantages for college entrance work. Congenial living. Press Clippings? Athletic training. Certificate privilege. For information and catalogue address: It will more than pay you to secure our extensive service cover- W. D. Funkhouser, Principal ing all subjects, trade and personal Ithaca, N. Y. and get the benefit of the best and Trustees most systematic reading of all papers and periodicals, here and Franklin C.
    [Show full text]
  • Kathy Williams
    streetwise BY STEPHEN BARLAS, MATT KOPECKY, BOB RANDALL, KATHY WILLIAMS [NEWS] FASB, IASB Publish Joint Proposals on MAKING CMA THE Business Combinations | KATHY WILLIAMS GOLD STANDARD The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have each published an Exposure Draft containing joint pro- posals to improve the accounting and reporting of business combinations. According ➤Help validate the value of to both groups, the objective of the project is to develop a single high-quality stan- the Certified Management dard for accounting for business combinations that could be used for both domestic Accountant (CMA) credential! and cross-border financial reporting. The proposed standard would replace the The Institute of Certified Man- FASB’s Statement of Financial Accounting Standards (SFAS) No. 141, “Business Com- agement Accountants (ICMA) is binations,” and the IASB’s International Financial Reporting Standard (IFRS) 3, preparing to launch a new job “Business Combinations.” analysis to confirm the knowl- Both Boards said that the proposals retain the fundamental requirement to account edge, skills, and abilities need- for all business combinations using a single method—where one party is always iden- ed by professionals who tified as acquiring the other. The principal proposed changes include a requirement practice management account- “to measure the business acquired at fair value and to recognize the goodwill attribut- ing and financial management able to any noncontrolling interests (previously referred to as minority interests) inside organizations. This rather than just the portion attributable to the acquirer.” There would also be fewer updated analysis was strongly exceptions to measuring the assets acquired and liabilities assumed at fair value.
    [Show full text]
  • Mike Scott Was Laid Off When Defense Industry Cuts Hit California and He Needed to Replace His Income
    For More Than 25 Years, IBD Has Been Helping Investors 2009 Anniversary Issue I dedicated the 2004 Stock Trader’s Almanac to Bill O’Neil: “His foresight, innovation and disciplined approach to stock market investing will influence investors and traders for generations to come.” I would also add that the inspiring daily column, IBD’s 10 Secrets to Success, by itself, is worth much more that the subscription price. YALE HIRSCH, PUBLISHER, EDITOR OF STOCK TRADER’S ALMANAC, AUTHOR OF LET’S CHANGE THE WORLD INC. I think the consistency of IBD and the interesting and informative news on a range of topics that is highly relevant for investors is impressive. The Monday newspaper also adds some interesting variables. I think the item that strikes me as very useful, and well edited day-in, day-out is trends and innovation on the always interesting page 2. Those nuggets just don’t turn up anywhere else. Keep up the good work. JOHN CURLEY, FORMER CEO OF GANNETT INC. AND FOUNDING EDITOR OF USA TODAY The IBD editorial pages are a pure, insightful, and factual expression of free market capitalism. A wonder and a marvel to read every day. For me, these pages are a must read. LARRY KUDLOW, HOST, CNBC’S THE KUDLOW REPORT History has and will continue to hold a distinct credit of honor to the contributions Investor’s Business Daily has made on numerous individual and institutional investors over the past 25 years. No other information source can match the fact-based historical research that IBD delivers and teaches.
    [Show full text]
  • 100-Baggers Copyright © Agora Financial, LLC, 2015 All Rights Reserved
    10BAGGER0S STOCKS THAT RETURN 100-TO-1 AND HOW TO FIND THEM 10BAGGER0S STOCKS THAT RETURN 100-TO-1 AND HOW TO FIND THEM CHRISTOPHER MAYER Laissez Faire Books In memory of Thomas W. Phelps, author of the first book on 100-baggers Copyright © Agora Financial, LLC, 2015 All rights reserved. ISBN: 978-1-6212916-5-7 19 18 17 16 15 1 2 3 4 5 6 7 Published by Laissez Faire Books, 808 St. Paul Street, Baltimore, Maryland www.lfb.org Cover and Layout Design: Andre Cawley CONTENTS Chapter 1: Introducing 100-Baggers .............................................................................1 Chapter 2: Anybody Can Do This: True Stories....................................................... 11 Chapter 3: The Coffee-Can Portfolio ..........................................................................15 Chapter 4: 4 Studies of 100-Baggers ........................................................................31 Chapter 5: The 100-Baggers of the Last 50 Years ...............................................43 Chapter 6: The Key to 100-Baggers .......................................................................... 75 Chapter 7: Owner-Operators: Skin in the Game ...................................................83 Chapter 8: The Outsiders: The Best CEOs ..............................................................93 Chapter 9: Secrets of an 18,000-Bagger ............................................................... 103 Chapter 10: Kelly’s Heroes: Bet Big .............................................................................111 Chapter
    [Show full text]
  • Buy the Rumor, Sell the Fact : 85 Maxims of Investing and What They Really Mean
    BUY THE RUMOR, SELL THE FACT This page intentionally left blank. BUY THE RUMOR, SELL THE FACT 85 Maxims of Investing and What They Really Mean Michael Maiello McGraw­Hill New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto Copyright © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. Manufac­ tured in the United States of America. Except as permitted under the United States Copy­ right Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior writ­ ten permission of the publisher. 0­07­144225­1 The material in this eBook also appears in the print version of this title: 0­07­142795­3. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fash­ ion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw­Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw­hill.com or (212) 904­ 4069. TERMS OF USE This is a copyrighted work and The McGraw­Hill Companies, Inc. (“McGraw­Hill”) and its licensors reserve all rights in and to the work.
    [Show full text]
  • Using CANSLIM Analysis for Evaluating Stocks of the Companies Admitted in Tehran Stock Exchange
    Journal of American Science 2013;9(4s) http://www.jofamericanscience.org Using CANSLIM Analysis for Evaluating Stocks of the Companies Admitted in Tehran Stock Exchange Mehdi Najafi1, Farshid Asgari 2 1. Department of Management, Kish International Campus, University of Tehran, Kish Island, Iran 2. Corresponding Author, Department of Management, Kish International Campus, University of Tehran, Kish Island, Iran [email protected] Abstract: CANSLIM strategy is a method for analyzing stocks available in capital market which is combination of stocks fundamental analysis and technical analysis methods which have been used in global capital market in recent years. This method has been based on seven criteria which include 1- quarterly EPS, 2- annual EPS, 3- new management, products and services, 4-the number of float, 5- progress of industries, 6- institutional investment, 7- direction of market. The present paper is result of the research on “studying performance of CANSLIM analysis for evaluating stocks of the companies admitted in Tehran Stock Exchange “. In this research, we study seven factors of CANSLIM analysis affecting the selected stocks and finally main hypothesis of “studying ability to analyze CANSLIM in selection of leading stocks “and the obtained research confirms ability of this research to select leading stocks. By comparing result of this research with result of the research in this field which was conducted in 2006, this paper concludes that some factors such as sanction are effective on full efficiency of CANSLIM analysis. [Najafi M, Asgari F. Using CANSLIM Analysis for Evaluating Stocks of the Companies Admitted in Tehran Stock Exchange. J Am Sci 2013;9(4s):129-134].
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement ☐ Definitive Additional Materials ☐ Soliciting Material under §240.14a-12 THE TRADE DESK, INC. (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): ☒ No fee required. ☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: ☐ Fee paid previously with preliminary materials. ☐ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: The Trade Desk, Inc.
    [Show full text]
  • OPBM II: an Interpretation of the CAN SLIM Investment Strategy
    OPBM II: An Interpretation of the CAN SLIM Investment Strategy Matthew Lutey University of New Orleans Michael Crum Northern Michigan University David Rayome Northern Michigan University The CAN SLIM investment strategy was developed by William J. O’Neil and has been popularized by Investor’s Business Daily. This trading strategy involves selecting stocks based upon seven criteria, and requires active portfolio management. This paper presents and tests a simplified version of the CAN SLIM strategy, which could relatively easily be used by individual investors using stock screeners. The simplified trading strategy outperformed the NASDAQ 100 Index by .94% per month for the period 2010 through 2013 and achieved a greater reward per unit of risk when compared to the NASDAQ 100. INTRODUCTION The CAN SLIM trading strategy, created by William J. O’Neil, involves selecting stocks based upon seven criteria (2009). Despite the fact that the seven selection criteria are relatively simple to understand conceptually, they can be extremely difficult to actually use to select stocks in practice. This is particularly problematic as the CAN SLIM strategy is viewed as a tool for the individual investor, who may not have the knowledge and/or ability to use the strategy correctly. This paper develops and tests a simplified version of the CAN SLIM strategy- outperform the broad market (OPBM) II, which reduces the seven selection criteria to four criteria. This simplified CAN SLIM trading strategy is designed so that the average individual investor (with little to no analytic capability) could easily select stocks using widely available stock screeners. Thus, individual investors could make use of this strategy without having to spend a substantial amount of time developing the market expertise required to successfully implement the traditional CAN SLIM investing strategy.
    [Show full text]