2011 Dividend stock

1. MFA Financial, Inc. (MFA): REIT Industry. Market cap of $2.28B. Dividend yield at 11.55%. 5-year average gross margin at 32.87% vs. industry average at 10.74%. 5-year average net profit margin at 18.99% vs. industry average at 1.14%. Short float at 4.44%, which implies a short ratio of 3.88 days. The stock has gained 26.01% over the last year. 2. Ares Capital Corporation (ARCC): Diversified Investments Industry. Market cap of $3.15B. Dividend yield at 8.56%. 5-year average gross margin at 73.78% vs. industry average at 53.28%. 5-year average net profit margin at 31.75% vs. industry average at 26.68%. Short float at 0.7%, which implies a short ratio of 0.86 days. The stock has gained 36.59% over the last year. 3. Frontier Communications Corporation (FTR): Telecom Services Industry. Market cap of $9.16B. Dividend yield at 8.13%. 5-year average gross margin at 90.6% vs. industry average at 54.1%. 5-year average net profit margin at 9.04% vs. industry average at 7.33%. Short float at 4.36%, which implies a short ratio of 4.46 days. The stock has gained 34.8% over the last year. 4. Windstream Corporation (WIN): Telecom Services Industry. Market cap of $6.18B. Dividend yield at 7.82%. 5-year average gross margin at 62.29% vs. industry average at 54.1%. 5-year average net profit margin at 16.31% vs. industry average at 7.33%. Short float at 3.35%, which implies a short ratio of 3.36 days. The stock has gained 29.61% over the last year. 5. CenturyLink, Inc. (CTL): Telecom Services Industry. Market cap of $12.73B. Dividend yield at 6.91%. 5-year average gross margin at 64.67% vs. industry average at 54.1%. 5-year average net profit margin at 13.22% vs. industry average at 7.33%. Short float at 9.39%, which implies a short ratio of 7.49 days. The stock has gained 30.69% over the last year. 6. Omega Healthcare Investors Inc. (OHI): REIT Industry. Market cap of $2.15B. Dividend yield at 6.79%. 5-year average gross margin at 93.46% vs. industry average at 33.28%. 5-year average net profit margin at 40.29% vs. industry average at 21.05%. Short float at 5.47%, which implies a short ratio of 6.96 days. The stock has gained 17.59% over the last year. 7. Pitney Bowes Inc. (PBI): Business Equipment Industry. Market cap of $4.88B. Dividend yield at 6.09%. 5-year average gross margin at 45.12% vs. industry average at 44.56%. 5-year average net profit margin at 8.14% vs. industry average at 6.11%. Short float at 8.89%, which implies a short ratio of 9.05 days. The stock has gained 18.64% over the last year. 8. AT&T, Inc. (T): Telecom Services Industry. Market cap of $168.32B. Dividend yield at 6.04%. 5-year average gross margin at 54.11% vs. industry average at 54.1%. 5-year average net profit margin at 10.59% vs. industry average at 7.33%. Short float at 0.89%, which implies a short ratio of 2.19 days. The stock has gained 18.52% over the last year. 9. Regal Entertainment Group (RGC): Movie Production, Theaters Industry. Market cap of $1.88B. Dividend yield at 5.91%. 5-year average gross margin at 44.68% vs. industry average at 35.51%. 5-year average net profit margin at 5.55% vs. industry average at 4.15%. Short float at 9.59%, which implies a short ratio of 6.79 days. The stock has lost -13.43% over the last year. 10. Health Care REIT Inc. (HCN): REIT Industry. Market cap of $6.47B. Dividend yield at 5.77%. 5-year average gross margin at 92.0% vs. industry average at 47.77%. 5-year average net profit margin at 27.54% vs. industry average at 4.68%. Short float at 6.29%, which implies a short ratio of 4.59 days. The stock has gained 17.65% over the last year. 11. Verizon Communications Inc. (VZ): Telecom Services Industry. Market cap of $99.62B. Dividend yield at 5.53%. 5-year average gross margin at 60.43% vs. industry average at 54.1%. 5-year average net profit margin at 9.86% vs. industry average at 7.33%. Short float at 1.94%, which implies a short ratio of 3.08 days. The stock has gained 22.11% over the last year. 12. HCP, Inc. (HCP): REIT Industry. Market cap of $11.19B. Dividend yield at 5.16%. 5-year average gross margin at 81.71% vs. industry average at 47.77%. 5-year average net profit margin at 14.61% vs. industry average at 4.68%. Short float at 3.53%, which implies a short ratio of 2.65 days. The stock has gained 30.1% over the last year. 13. Bristol-Myers Squibb Company (BMY): Drug Manufacturer. Market cap of $44.5B. Dividend yield at 5.08%. 5-year average gross margin at 69.49% vs. industry average at 48.48%. 5-year average net profit margin at 17.53% vs. industry average at 13.32%. Short float at 2.69%, which implies a short ratio of 4.93 days. The stock has gained 12.21% over the last year. 14. Merck & Co. Inc. (MRK): Drug Manufacturer. Market cap of $104.13B. Dividend yield at 4.50%. 5-year average gross margin at 73.45% vs. industry average at 48.48%. 5-year average net profit margin at 27.82% vs. industry average at 13.32%. Short float at 0.69%, which implies a short ratio of 1.27 days. The stock has lost -9.02% over the last year. 15. Pfizer Inc. (PFE): Drug Manufacturer. Market cap of $147.78B. Dividend yield at 4.34%. 5-year average gross margin at 82.22% vs. industry average at 48.48%. 5-year average net profit margin at 17.98% vs. industry average at 13.32%. Short float at 0.64%, which implies a short ratio of 1.15 days. The stock has gained 1.43% over the last year. 16. Kimberly-Clark Corporation (KMB): Personal Products Industry. Market cap of $26.09B. Dividend yield at 4.13%. 5-year average gross margin at 31.46% vs. industry average at 24.5%. 5-year average net profit margin at 9.15% vs. industry average at 2.94%. Short float at 1.37%, which implies a short ratio of 2.02 days. The stock has gained 10.43% over the last year. 17. Plum Creek Timber Co. Inc. (PCL): REIT Industry. Market cap of $6.69B. Dividend yield at 4.06%. 5-year average gross margin at 31.41% vs. industry average at 30.5%. 5-year average net profit margin at 17.92% vs. industry average at 6.36%. Short float at 9.51%, which implies a short ratio of 10.2 days. The stock has gained 17.58% over the last year. 18. Olin Corp. (OLN): Chemicals Industry. Market cap of $1.57B. Dividend yield at 4.04%. 5-year average gross margin at 22.2% vs. industry average at 18.69%. 5-year average net profit margin at 9.68% vs. industry average at 6.6%. Short float at 7.37%, which implies a short ratio of 7.99 days. The stock has gained 21.93% over the last year. 19. Kimco Realty Corporation (KIM): REIT Industry. Market cap of $7.25B. Dividend yield at 4.03%. 5-year average gross margin at 71.97% vs. industry average at 42.83%. 5-year average net profit margin at 39.48% vs. industry average at 29.85%. Short float at 4.18%, which implies a short ratio of 3.64. 20. Ventas Inc. (VTR): REIT Industry. Market cap of $8.4B. Dividend yield at 4.0%. 5-year average gross margin at 75.14% vs. industry average at 47.77%. 5-year average net profit margin at 22.72% vs. industry average at 4.68%. Short float at 7.35%, which implies a short ratio of 9.04 days. The stock has gained 31.09% over the last year. Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Market Idea - Three sectors: auto, transportation, and medical/health care – could emerge as big winners _Zacks

Automotive

The U.S. automotive sector has been growing rapidly with full-year auto sales on track to hit 17 million, a record not seen in the last 15 years. Lead to a strong auto earnings growth of 8.7%

(read: Auto Sales on Top Gear: ETFs & Stocks to Ride on).

Investors could ride the earnings growth potential with a pure play – First Trust NASDAQ Global Auto ETF ((CARZ - ETF report)) – that provides global exposure to the 37 auto stocks by tracking the NASDAQ OMX Global Auto Index. It is a large cap centric fund and highly concentrated on the top 10 holdings with about 61.3% of assets, suggesting that company-specific risk is high and that the top 10 firms dominate the returns. Ford Motor (F - Analyst Report), Toyota Motor (TM -Analyst Report) and Daimler occupy the top three positions in the basket.

Transportation

The transport sector is expected to report earnings growth of 7.7% year over year on 0.2% revenues for the second quarter. While a strong dollar is eating away the profits of big transporters and has held the sector back this year, a combination of other factors including better job conditions, stepped-up economic activities, increasing consumer confidence and spending and of course, cheap fuel will provide strength in the sector.

One way to play this trend is withiShares Dow Jones Transportation Average Fund ((IYT - ETF report)), which tracks the Dow Jones Transportation Average Index and holds 20 stocks in its basket (read: 3 ETFs to Add to Your Celebrations on July Fourth).

Medical/Health Care

Health care has been the highflying corner of the broader U.S. market so far this year and the trend is likely to continue given the M&A boom, strong earnings growth, cost-cutting efforts, aging population, and Obamacare (read: Obamacare is Here to Stay: 3 ETFs to Buy).

With attractive fundamentals, the sector is expected to report 6.9% earnings growth on 7% revenues on a year-over-year basis for the second quarter. The sector’s non-cyclical nature is an added advantage in the current environment, where concerns are spiking on global growth, stretched valuations, Greece crisis and uncertainty regarding rate hike. Investors could find the popular First Trust Health Care AlphaDEX Fund ((FXH - ETF report)) an exciting pick to benefit from the current trends. The fund follows an AlphaDEX methodology and ranks stocks in the space on various growth and value factors, eliminating the bottom ranked 25% of the stocks.

This approach results in a basket of 77 stocks with a definite tilt toward the large caps at 51%. Each security holds less than 2.3% of assets. Health care providers & services is the top sector with 45.3% allocation, followed by biotech (20.8%) and pharma (15.3%). This fund manages about $4.1 billion in its asset base and trades in heavy volume of around 336,000 shares. Expense ratio came in at 0.66% annually. The fund has gained about 14% so far in the year and has a Zacks Rank of 1 or ‘Strong Buy’ rating with a Medium risk outlook.

Eight Huge Special Dividends to Watch Out for in Tech Before Year-End

These are eight technology players which could substantially reward their common shareholders with large one-time payments before 2012 comes to an end:

Apple Inc. (NASDAQ: AAPL) is the monster when it comes to which company sits on the world’s largest cash pile. It is also the monster when it comes to its market cap of $551 billion even after shares are down so much from the highs of over $700 recently. Most of its “cash” is in long-term securities but if you tally up Apple’s liquidity it has about $120 billion in its arsenal. Apple could easily pay out 8% to 10% of its market cap in a special dividend and it would not be noticed in the grand scheme of things. If the company wanted to get very aggressive, it could even borrow $25 billion to turn around and distribute it to shareholders. Apple generates so much cash that it could pay that back in a year and still show positive cash growth.

Corning Inc. (NYSE: GLW) may have gotten some good news on glass demand this week, but it is still suffering relentlessly from competitive markets in glass screens. With a market cap of about $18 billion, this leader trades at a discount to its book value. Corning also has close to $11.4 billion in cash, short-term assets and long-term assets. Corning already raised its dividend in November and offers close to a 3% yield but it could easily pay out 10% to its holders without increasing leverage too much.

Dell Inc. (NASDAQ: DELL) may need to hoard its cash to remain defensive and it may need to look for more acquisitions in the IT-services sector. With its shares down and out, you have to wonder about its cash balance and long-term investments coming to roughly $15 billion today. We would never expect this to occur, but this PC player could literally scrape up enough cash to pay out a special dividend that comes to 25% to 50% of its $17 billion market cap. With the tax deadline looming, envisioning a 10% or 15% special dividend would be no sacrifice to the company. It already pays a 3.4% yield as is.

eBay Inc. (NASDAQ: EBAY) has lost its growth and since it trades close to a 52-week high it is even hard to call a value stock any longer. The company has made many deals in the past but has yet to pay a dividend. With a $66 billion market value, eBay has close to $12 billion on its books in cash and short-term and long-term securities. As it already has close to a monopoly in online consumer auctions in America, does it really need to hold all of this cash? Paying a 5% special cash dividend and finally instituting a dividend with a 2% yield would not hurt the company at all.

Juniper Networks, Inc. (NYSE: JNPR) has been overlooked in the technology value plays. It currently does not pay a regular dividend. Some have considered it a takeover candidate as well. If you tally up the networking equipment maker’s cash and short-term and long-term investments it comes to over $4 billion against a market cap of $8.7 billion. Even if Juniper has significant assets locked up it could easily scrape up almost $1 billion to come up with a 10% special cash dividend for its shareholders. With shares at $16.80, its 52-week range is $14.01 to $25.04.

Microsoft Corporation (NASDAQ: MSFT) has such a large cash balance that you wonder just what it will or can do with all of that cash. Unfortunately a large portion of its capital is overseas due to its sales being global. If you tally up the long-term investments and its cash and short-term assets, Microsoft is sitting on somewhere around $75 billion. With a market cap of $230 billion, Microsoft could pay a 10% special dividend and it would not even have to blink its eyes.

Oracle Corporation (NASDAQ: ORCL) is a great laggard when it comes to dividends. Its yield is less than 1% and its market cap is over $150 billion. Larry Ellison and friends have a cash arsenal of more than $31 billion. Ellison recently said that he would rather return cash gradually with hikes, but even if it wants to save its cash for another large deal out in a year or two as it telegraphed before it does not need $31 billion. By sending back half of that cash, Oracle could have a 10% special cash dividend and still have more than $15 billion on its books.

Yahoo! Inc. (NASDAQ: YHOO) just became a cash monster now that it monetized part of its Alibaba stake and repatriated that cash. If you tally up its cash and short-term and long-term investments it now sits on close to $13 billion in liquidity with close to no long-term debt. With a market cap of $22 billion this perpetual turnaround trades at about 2-times its tangible book value. The company previously pledged to return 85% of that $4+ billion in net after-tax proceeds to holders but it did not specify how. Marissa Mayer hs the stock at $19 and at a 52-week high so she can do whatever she wants and likely be able to sell it. Our take is that a large one-time dividend would be best, but the company can likely do what it wants without being punished right now.

With this being the last week of November, if a company is going to conduct a special dividend its time is running out. Taxes are likely headed higher for dividends so these companies need to decide how to best maximize the after-tax returns for shareholders.

http://247wallst.com/2012/11/27/8-huge-special-dividends-to-watch-out-for-in-tech-before-year-end/

The Most Promising Dividends in Coal

Dividend payers deserve a berth in any long-term stock portfolio. But seemingly attractive dividend yields are not always as fetching as they may appear. Let's see which companies in the coal industry offer the most promising dividends.




Yields and growth rates and payout ratios, oh my!

Before we get to those companies, though, you should understand just why you'd want to own dividend payers. These stocks can contribute a huge chunk of growth to your portfolio in good times, and bolster it during market downturns.



As my colleague Matt Koppenheffer has noted: "Between 2000 and 2009, the average dividend-adjusted return on stocks with market caps above $5 billion and a trailing yield of 2.5% or better was a whopping 114%. Compare that to a 19% drop for the S&P 500."



When hunting for promising dividend payers, unsophisticated investors will often just look for the highest yields they can find. While these stocks will indeed pay out the most, the yield figures apply only for the current year. Extremely steep dividend yields can be precarious, and even solid ones are vulnerable to dividend cuts.



When evaluating a company's attractiveness in terms of its dividend, it's important to examine at least three factors:



•The current yield

•The dividend growth

•The payout ratio

If a company has a middling dividend yield but a history of increasing its payment substantially from year to year, it deserves extra consideration. A $3 dividend can become $7.80 in 10 years, if it grows at 10% annually. (It will top $20 after 20 years.) Thus, a 3% yield today may be more attractive than a 4% one, if the 3% company is rapidly increasing that dividend.



Next, consider the company's payout ratio, which reflects what percentage of income the company is spending on its dividend. In general, the lower the number, the better. A low payout ratio means there's plenty of room for generous dividend increases. It also means that much of the company's income remains in its hands, giving it a lot of flexibility. That money can fund the business's expansion, pay off debt, buy back shares, or even buy other companies. A steep payout ratio reflects little flexibility for the company, less room for dividend growth, and a stronger chance that if the company falls on hard times, it will have to reduce its dividend.



Peering into coal

Among coal stocks, Oxford Resource Partners and Natural Resource Partners are among the highest-yielding stocks, offering 11.6% and 7.9%, respectively. But they're not necessarily your best bets. Oxford just debuted on the market via IPO in 2010, and it's not profitable at the moment. Natural Resource, meanwhile, sports a scary payout ratio, although the fact that it's a master limited partnership that's required to distribute income explains the payout ratio in part. Penn Virginia Resource Partners (NYSE: PVR ) , with a 7.7% yield, also sports a steep payout ratio, along with slowing earnings growth. Its top line has been growing, though, offering some hope that it can turn things around.



Let's next turn to the dividend growth rate, where Walter Energy (NYSE: WLT ) leads the way, with a five-year average annual dividend growth rate of 27.4%. That growth rate is so steep in part because its yield is very low, at less than 1%. Even at a fast growth rate, it'll take a while to reach an attractive level. In the meantime, it's appealing to some investors for its positive cash flow generation and because some think it might get bought out.



Some coal companies, such as Patriot Coal (NYSE: PCX ) and James River Coal (Nasdaq: JRCC ) , don't pay dividends at all. That's because smaller or fast-growing companies often prefer to plow any excess cash into further growth rather than pay it out to shareholders. Patriot Coal is conserving cash after having been plagued with production problems lately, while James River spent cash to acquire greater metallurgical coal production capability. Both companies can benefit from strong global demand for coal and for met coal, used in steel production.



Just right

As I see it, Alliance Resource Partners and Yanzhou Coal Mining (NYSE: YZC ) offer the best combination of dividend traits, sporting some solid income now and a good chance of strong dividend growth in the future. Yanzhou, with a recent yield of 3.8% and a five-year dividend growth rate of 12%, has benefited from rising coal prices in China and has boosted its production capacity. Alliance Resource, yielding 5.1% and growing its dividend at 13% annually, boasts some long-term contracts that can protect it from market volatility.


Of course, as with all stocks, you'll want to look into more than just a company's dividend situation before making a purchase decision. Still, these stocks' compelling dividends make them great places to start your search, particularly if you're excited by the prospects for this industry.

Do your portfolio a favor. Don't ignore the growth you can gain from powerful dividend payers.

http://www.fool.com/investing/dividends-income/2012/01/05/the-most-promising-dividends-in-coal.aspx




Looking for some All-Star dividend-paying stocks? Look no further

选股第2招:寻找稳赚图形

【 成交量的圆弧底 】

圆底的主要特征:
1:打底的时间较长.
2:底部的波动幅度极小,成交量极度萎缩.
3:股价日K线与平均线叠合得很近.
4:盘至尾端时,成交量缓慢递增,之后就是巨量向上突破阻力线.
5:在经历了大幅下跌之后形成.

【 重要的稳赚图形 -- 双底 】

 一个完整的双底包括两次探底的全过程.也是反映出买卖双方力量的消长变化.在市场上实际走势中,形成圆底的机会较少些,反而形成双底的机会较多些.

 

选股第1招:洞悉成交量的变化

【 成交量的圆弧底 】
股价: 高位 -- 下跌 -- 盘整 -- 波动幅度减小 -- 微升 -- 剧升
成交量: 巨量 -- 递减 -- 盘稳 -- 极度萎缩 -- 递增 -- 巨增   


回升的涨幅及强弱势态决定于圆弧底出现之后成交量放大的幅度,若放大的数量极大,则涨升能力越强.

建议大家做有耐心的投资 者,在成交量底部买入.事实上这种做法才是真正的保守和安全的.在市势明朗之后才买入的人也许能够赚钱,但是第一,他们赚不到大钱,他们只是抓住了行情的 中间的一段;第二,他们面临的风险实际上比较大,因为他们买入的价格比底部价格高出了许多.当它们买进的时候,底部买进的投资者已经随时可以获利离场,相 比之下,谁主动谁被动一清二楚了.

成交量的圆弧底,那需要较长时间形成.但是,有时成交量的微妙变化,只需要几天就可以确认. 交量的微妙变化则需要细心.一个总的前提条件是:首先成交量必须大幅萎缩,离开这一点,无异于缘木求鱼,就谈不上选股抓黑马的问题.

一种变化如图1-2所 示:成交量从某一天起突然放大,然后保持一定的幅度,几乎每天都维持这种水平.这种变化表明有新的力量已经介入这只股票,并有计划的投入资金纳该股.这种 介入往往引起股价上涨,但在收市时却有人故意将股价打低,其目的昭然若揭.所以我们在日线图上可以看出,在成交量放大的同时,股价小幅上涨,但常常在收市 时下跌,形成十字星状.建议投资者每天收市后浏览一遍日线图,把注意力集中在成交量上面,尤其集中在成交量已经大幅萎缩的股票上面.一旦发现近两天成交量 温和放大,且维持一定水平,(股价形成十字星)就必须将该股列入重点观察对象,进行跟踪.
 
    另一种变化如图1-3,成交量从某一天起逐步放大,并维持一种放大趋势.这也是有一种新的力量介入该股的证明,否则的话,怎么会这么有规律呢?与此同时, 股价常表现为小幅上扬,主力意图十分明显,不加掩饰.这种形状的出现表明主力已经没有多少耐心或时间来慢慢进货了,不得不将股价一路推高进货(急速建仓, 高举高打).这种情形就象飞机起飞,先在跑道上加速,一旦经过三五天加速过程之后,必定会突然起飞走出一段令人惊喜的行情.
  
成交量变化的分析方法不 仅可以用于日线图,在周线图或小时图上都可以运用.关键在于,用什么样的图分析得出来的结论只能适用于相应的时段.比如日线图上得看到的底部常常是中期底 部,随后展开的升势可能持续一个月或几个月,而小时图上的底部就只能支撑十几个小时了.如果你是真正的长线投资者,那么应该用周线图来分析,周线图上的底 部一般可以管一年到几年的时间.

成交量可以说是股价的动量

成交量是衡量买气和卖气的工具,它能对股价的走向有所确认.

成交量的形态改变将是趋势反转的前兆.

一旦股价跌破十日均线,则显示强势已经改变,将进入中期整理的阶段.  

盘整完成的股票要特别注意,理由是 其机会大于风险.盘整的末期成交量为萎缩.代表抛盘力量的消竭.基本上,量缩是一种反转信号,量缩才有止跌的可能,下跌走势中,成交量必须逐渐缩小才有反 弹的机会.但是,量缩之后还可能再缩,到底何时才是底部呢?只有等到量缩之后又是到量增的那一天才能确认底部.如果此时股价已经站在十日均线之上,就更能 确认其涨势已经开始了.

在盘局的尾段,股价走势具有以下特征:
1:波动幅度逐渐缩小.
2:量缩到极点.
3:量缩之后是量增,突然有一天量大增,且盘出中阳线,突破股票盘局,股价站在10日均线之上.
4:成交量持续放大,且收中阳线,加上离开底价三天为原则.
5:突破之后,均线开始转为多头排列,而盘整期间均线是叠合在一起.


    

投资水平

 就散户来讲，做TA比较有效. 证券市场骗子太多，说得天花乱坠，但实际的FA怎样我们散户很难知道，等我们知道FA变坏了，股价已经面目全非了。而TA在一定程度上能够看出基本面的变化，看到庄家所看到的，虽然时间延后了些。但TA很累，要不停找到新的目标，不停的作研究工作，耗精力，耗时间阿！

散户TA为主FA为辅就够了。TA突破的时候FA一般也会有变动. 有ER好的，有开始讲新故事的，有突发事件的，我最喜欢开始讲新故事的.

一个投资人或交易手脱离业余水平、走上专业级的重要标志之一就是开始对价格的涨跌不再敏感，然后是习以为常，最终是无视于价格的波动、波澜不惊，对于单个仓位的盈亏毫不在乎，而是把注意力集中在根据自己的交易系统调整仓位的多少和做好资金管理上面。

某位不知名的高人总结了一个成功的投资者需要经历的几个阶段：

投资第一级：基础修炼

刚进入投资领域时需要第一级修炼：投资的基础知识。包括了解，什么是投资？股票是什么？期货是什么？还有一些基本的交易规则、盈亏的计数方法等等。

投资第二级：形成盈利的思路

懂得基础知识后开始进入第二级修炼：投资市场中的思路。包括：投资盈利可以通过什么方法？有哪些盈利模式？赢家靠什么方法盈利？输家为什么亏损？投资者要 以 一个很清醒的头脑去开始投资生涯，正如巴菲特所说：如果你进入赌场，20分钟都不知道谁是“冤大头”，那么你将是“冤大头”。

投资第三级：掌握出入市的方法

明确盈利思路后，我们才真正开始踏上了投资的征途，进入了第三级修炼：掌握出入市方法。这些方法有技术分析方法、基本面分析方法等。投资大师巴菲特、索罗 斯、罗杰斯是基本面派的典范。而技术面的分析要求我们要有一套很明确的如何出入市的交易系统，丹尼斯、威廉斯、戴若•顾比、舒华兹等 投资大师是技术派的代表。

投资第四级：资金管理

这是一个非常重要的阶段。短线冠军舒华滋曾经有一次交易亏损了100多万美元，其原因是在行情对自己不利的时候还继续加码，把资金管理完全扔到一边，这说明高手也有犯错误的时候。所以在市场上，资金管理尤为重要。

真正进入这个阶段的投资者投资水平要达到能把握一波大行情，而且能保住利润。如果想要快速达到这个境界，最好能寻求到同等水平的资金管理经验，而且向在市 场 上获得丰厚利润的投资高手学习。华尔街短线大师威廉斯说，直到你学会资金管理方法以前，你只不过是一位微不足道的小小投机客。

投资第五级：操作训练

训练的重要性在于，运用好掌握的方法和技巧，使它长期地发挥优势。如果我们通过学习拥有了很好的技术操作系统，又有了很好的资金管理方法，却不能实战中很 好 地运用，在实战中把握行情，那也是没有办法盈利的。关键之处是要通过必要的训练去掌握它和在实战中运用你学到的投资技巧。

投资第六级：心理突破

很多人都知道赢钱赢在心态。通常心理这一关非常难过，中国男子兵兵球优秀队员王励勤早期也是因为心理关，往往一遇到重大比赛，技术发挥就失常。华尔街投资 大师、著名基金经理彼特•林奇每年都会花费100万美元聘请世界第一潜能大师安东尼•罗宾为他做心理辅导。
那投资者如何衡量自己的交易心理呢？你只要把自己的半年或者一年的交易记录详细列出来，查看自己按照自己的交易系统操作的单子所占比例是多少就可以知晓。如果超过90％，那恭喜你，你的心理过关了。

投资第七级：大师级素质

如果你第六级也成功地突破了，那你就将进入投资的最高境界——大师级素质。投资者的追求就是能够成为具有巴菲特、罗杰斯、布鲁斯•柯 夫纳、索罗斯这样杰出投 资素质的大师级人物，即具备自我学习、自我提高的能力，拥有非常强的纪律性、专注性和执行能力，同时对社会其他行业有着深刻的理解。

高素质投资者通常有着非常强的把握大行情的能力，就像罗杰斯在1999开始环游世界的时候就开始购买大宗商品类资产。能掌握这样的历史大机会的人才是真正的大师！

如果我们一直没有提升自己的投资水平，那我们就只能“留级”，就像我们读书时一样。投资水平和投资时间的长短没有必然的联系，如果你在哪一个级别不及格， 就 算是十年过去了，你也只能是“留级生”，停留在那个台阶上，无法成为赢家。只有通过不断地自我修练，我们才有可能一级一级地进步，最终实现自己的梦想。”