Jack Dreyfus – A Financial Wizard

Jack Dreyfus was born in Montgomery, Alabama, on Aug twenty-eight, 1913. Dreyfus was an American finance magician, and the conceiver of the seriously successful Dreyfus mutual funds. Dreyfus was one of the most renowned financiers in the 1950′s and 1960′s. He was credited with bringing massive numbers of US people to the stockmarket by making the Dreyfus mutual funds. This fund was one of the first widely promoted hedge funds.

Dreyfus set up his fund in 1951. He pioneered systems and techniques that would turn out to be extraordinarily successful. This included following market trends, and keeping his losses little. Dreyfus would also buy stocks as they reached annual or record high costs. He showed that, buy high and sell higher, was a better plan than, buy low and sell high.

The Dreyfus mutual funds returned 604% from 1953 to 1964. When Dreyfus himself ran the fund, it beat the second-best performing fund by a gigantic 102%. Now that’s really galvanizing. Twice in the 1950′s, Dreyfus raised cash in his Dreyfus mutual fund at the start of a major bear market. Dreyfus saved his clients a lot of cash. Most retirement funds, back then, and even now, stay just about entirely invested all of the time, regardless of what. This is pure insanity in a bear market. It is just one reason why funds aren’t a good way to earn money, in my view.

Dreyfus used technical research to reach his great success. Dreyfus mentioned “I just saw the patterns. The same stuff occurred repeatedly again”.

In summation, here is the fundamentals of the method that Dreyfus implemented so successfully. He routinely would buy each stock at its highest price during the past year. For example if a stock was in a price range of $35 to $40 for a couple of months, Dreyfus would buy when the stock broke out of the range, at only over $40 a share. Dreyfus observed for certain chart patterns that possibly could mean massive profits. He had seen these patterns many times during the past, and knew precisely which re-occurring patterns were the best to trade. Dreyfus stayed in synchronization with the market, by researching the price and volume action. He favored weekly charts and would also put the spotlight on robust elementals.