You might have done well in the stock market during the recent boom. You might even have financed your start-up or expanded your company with the profits. Or perhaps your cousin Jack's incredible return on an Internet stock got you so excited that you jumped right in-just before it dropped like a rock, taking your nest egg and entrepreneurial dreams with it.
Whatever the case, it's probably because of luck, says 67-year-old investment guru William J. O'Neil. He's the author of several books that feature a research-based approach to why and when stocks move up or down, including the bestseller How to Make Money in Stocks (McGraw-Hill) and, most recently, 24 Essential Lessons for Investment Success (McGraw-Hill).
O'Neil knows what it's like to invest your money in your own business. He has started several companies, the most notable being Investor's Business Daily (IBD), which he funded entirely out of his own pocket-unheard of in the publishing industry. According to the Audit Bureau of Circulations, IBD is the fastest-growing major newspaper, with more than 839,000 readers.
We asked O'Neil to share his legendary-and often contrarian-insights into being successful, both as an investor and a businessman.
Scott S. Smith writes about business issues for a variety of publications, including United Airlines' Hemispheres, as well as for Office.com.