20 Best William O’Neil Quotes Every Trader Should Know

William O’Neil: The Man Behind CANSLIM

William O’Neil (1933-2023) was an American entrepreneur, stockbroker, and author who transformed the world of investing. Known for his innovative strategies and wisdom, William O’Neil’s quotes continue to inspire and guide traders today. He started his career in 1958 at Hayden, Stone & Company, where he quickly stood out by using early computer technology to develop a unique investment strategy. By 1960, he was accepted into Harvard’s Program for Management Development, which fueled his research and helped him develop the CANSLIM strategy—a system that made him the top-performing broker at his firm.

At just 30, O’Neil made history as the youngest person to buy a seat on the New York Stock Exchange. In 1963, he founded William O’Neil & Co. Inc., and by 1984, he launched Investor’s Business Daily, a newspaper that remains a trusted source for investing news today.

O’Neil’s influence goes beyond his firm and his newspaper. His best-selling book, How to Make Money in Stocks, outlines the CANSLIM strategy, a system that continues to guide investors all around the world. O’Neil revolutionized stock analysis by combining both fundamental and technical data into a single strategy. He was one of the first to use computer databases to track and analyze thousands of stocks. His approach to disciplined investing, based on historical patterns of stock market success, has left a lasting mark on how people approach investing today.

William O’Neil Quotes

Quotes on Risk Management

Understanding risk management is key to long-term success in the stock market. William O’Neil stresses that protecting your capital by minimizing losses is more important than chasing big gains. Good risk management keeps you in the game, even when things don’t go your way. A clear exit plan and knowing when to cut your losses are the most important parts of any successful trading strategy. The following are the best William O’Neil quotes on risk management.

The whole secret to winning big in the stock market is not to be right all the time, but to lose the least amount possible when you’re wrong.

William O’Neil

Investors cash in small, easy-to-take profits and hold their losers. This tactic is exactly the opposite of correct investment procedure. Investors will sell a stock with profit before they will sell one with a loss.

William O’Neil

Buying a stock without knowing when or why you should sell it is like buying a car with no brakes, or being in a boat with no life preservers, or taking flying lessons that teach you how to take off but not how to land.

William O’Neil

Learn to always sell stocks quickly when you have a small loss rather than waiting and hoping they’ll come back.

William O’Neil

Quotes on Psychology and Emotions

Managing your emotions is a huge part of successful trading. Fear, greed, and hope can lead to poor decisions in the stock market. O’Neil’s advice highlights the dangers of letting personal feelings cloud your judgment. Developing emotional discipline helps you stay objective and make decisions based on facts and data, not feelings, which ultimately leads to better results. The following are the best William O’Neil quotes on trading psychology.

Personal opinions, feelings, hopes, and beliefs about the stock market are usually wrong and often dangerous. Facts and markets, on the other hand, are seldom wrong.

William O’Neil

A great trader once noted there are only two emotions in the market: hope and fear. “The only problem,” he added, “is we hope when we should fear, and we fear when we should hope.” This is just as true in 2009 as it was in 1909.

William O’Neil

The moral of the story is: never argue with the market. Your health and peace of mind are always more important than any stock.

William O’Neil

The market has a simple way of whittling all excessive pride and overblown egos down to size. After all, the whole idea is to be completely objective and recognize what the marketplace is telling you, rather than try to prove that the thing you said or did yesterday or six weeks ago was right. The fastest way to take a bath in the stock market or go broke is to try to prove that you are right and the market is wrong.

William O’Neil

Purpose is a more powerful motivator than money. When you are not paid as much as you would like, your purpose will provide you a reason to continue producing excellence in your work. When you have more money than you ever thought possible, your purpose will provide you with a reason to continue producing excellence in your work.

William O’Neil

Quotes on Stock Selection and Fundamental Analysis

Picking the right stocks is systematic to William O’Neil. O’Neil emphasizes the importance of focusing on companies with strong fundamentals, like solid earnings growth, good return on equity, and healthy profit margins. He also was vocal against over-diversifying your portfolio. Instead, concentrate on a few high-quality stocks to achieve better results. Understanding key growth metrics will help you stay focused on the best names.

Over-diversification is a hedge for ignorance.

William O’Neil

The number one market leader is not the largest company or the one with the most recognized brand name; it’s the one with the best quarterly and annual earnings growth, return on equity, profit margins, sales growth, and price action.

William O’Neil

Over time, you’ll learn that only one or two out of every 10 stocks you buy will be truly outstanding and capable of doubling or tripling or more in value.

William O’Neil

There is no reason any investor should ever in any bull market buy or sit with a poor-performing stock with a Relative Strength Rating of 10, 20, 30, 40, or 50. The market is bluntly telling you that that investment is a relatively poor or mediocre choice.

William O’Neil

Quotes on Strategy and Discipline

To be successful in the stock market, you need a solid strategy and the discipline to stick to it. William O’Neil stresses the importance of doing your homework, learning from your mistakes, and following a proven approach, like his CANSLIM strategy. Keeping things simple and avoiding unnecessary complications will improve your trading results. Discipline in sticking to your plan is what separates the best traders from the rest.

90% of the people in the stock market, professionals and amateurs alike, simply haven’t done enough homework.

William O’Neil

Plot out your mistakes on charts, study them, and write some additional rules in order to correct your mistakes and the actions that cost you money.

William O’Neil

Remember, keep it simple. Investing is hard enough. Stick to the basic rules of CAN SLIM and don’t complicate it by getting super-tricky.

William O’Neil

When you appear to be right always follow up.

William O’Neil

Quotes on Trends and Timing The Market

Recognizing market trends and timing your trades properly can make a big difference in your investment returns. O’Neil highlights that at least half of a stock’s movement is influenced by the general market conditions. Being aware of market trends and acting when the time is right can help you take advantage of opportunities. Timing the market, when done right, can significantly boost your portfolio performance.

When everybody is running around saying how great a stock is, everybody who can buy probably already has, and the only direction for the stock to go at that point is down. When it’s obvious and exciting to everyone, it’s too late!

William O’Neil

It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.

William O’Neil

At least 50% of the whole game is the general market.

William O’Neil