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Jack Dreyfuss was born on August 28, 1913, in Montgomery, Alabama. Dreyfus was an American financial wizard, and founder of the highly successful Dreyfus Fund.
Dreyfus was one of the most successful investors in the 1950s and 1960s. He is credited with introducing a large number of Americans to the stock market by creating the Dreyfus Fund. The fund was one of the first widely marketed mutual funds.
Dreyfus established his fund in 1951. He pioneered strategies and methods that would prove to be very successful. This included following the market trends and keeping your losses small. Dreyfus also bought stocks as they reached annual or all-time high prices. He proved that buy high and sell high is a much better strategy than buy low and sell high.
The Dreyfus Fund returned 604% from 1953 to 1964. Now that’s really impressive. Twice in the 1950s, Dreyfus raised cash in his Dreyfus Fund at the start of a major bear market. Dreyfus saved his clients a lot of money. Most mutual funds, then, and still remain fully invested at all times, no matter what. This is pure madness during a bear market. This is just one reason why mutual funds are not a good way to make money, in my opinion.
Dreyfus used technical analysis to achieve his great success. Dreyfus said, “I just saw patterns. The same things happened over and over again”.
In short, here are the basics of the strategy that Dreyfus implemented so successfully. He will typically buy each stock at its highest price in the past year. As an example, if a stock was in the $35 to $40 price range for a few months, Dreyfuss would buy when the stock was out of range, at only $40 per share. Dreyfuss looked for certain chart patterns that could potentially mean big profits. He had seen these patterns many times in the past, and knew exactly which recurring patterns were the best to trade. Dreyfus kept pace with the market by analyzing price and volume action. He favors weekly charts and also focuses on strong fundamentals.
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