オニール: 「割高」は空売りの根拠にならない
Valuation describes a level; the short side requires timing. Nothing obliges an expensive stock to converge on your estimate of fair, and demand can…
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Trader: william-j-oneil
オニール: 空売りはスキルだ、授業料も本物だ
O’Neil opens the short side with a warning rather than a promise, and the warning is structural. The instincts the long side rewards — patience…
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オニール: 逆張りの罠：勝ちを手放し、負けを抱える
O’Neil is describing a wiring problem, not a knowledge problem. Selling a winner feels safe because you lock in a gain; holding a loser feels safe…
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オニール: 安全な株など存在しない
O’Neil is dismantling the most expensive comfort in the market — the belief that a great business makes a great stock immune. It doesn’t. The best…
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オニール: 高すぎると思われるものは、たいていさらに上がる
O’Neil calls this the great paradox because it runs against everything our bargain-hunting instinct wants. Strength tends to beget strength. A stock…
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