Overall impression
This is a good, practical, personal, and detailed chapter on hunting for multi-baggers and IPO investing. It shows deep personal experience, has clear structure, and offers actionable advice with caveats about risk.
It reads like the voice of an experienced retail investor writing for other investors—not too academic, but instructive and honest.
It also has some weaknesses:
✅ Strengths:
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Clear, direct style with personal anecdotes.
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Cautionary notes about IPO hype and failure rates.
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Emphasis on fundamental and technical screening.
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Use of personal results adds credibility.
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Specific trade data supports claims.
⚠️ Weaknesses:
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Occasional awkward phrasing and grammar issues.
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Some logical or factual claims could be tightened (e.g., RSI “above 65 for years” is unlikely literally).
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Data citations sometimes seem approximate or unclear.
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Tables sometimes inconsistent.
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Tone sometimes swings between conversational and more formal.
I’ll now review section by section with comments:
1️⃣ Intro: “Finding the next Apple...”
Strengths
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Sets a clear goal and realistic expectation.
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Highlights survivorship bias (many losers for each winner).
Suggestions
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“IPOs seem easy to make multi-baggers” could be clarified (e.g., “IPOs may seem like easy paths to multi-baggers”).
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Good job warning about failure rates.
2️⃣ How to Find Potential Multi-Baggers
✅ Good focus on doubling sales/profits YoY.
✅ Mention of seasonal adjustment shows sophistication.
Possible issues
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“Typically, these companies are…” list is solid but maybe too sweeping.
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E.g., “often not listed on major exchanges at first” — correct, but many small-caps are listed (e.g., NASDAQ).
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Suggestion
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Clarify “non-dividend-paying” = growth-focused.
✅ Advice to screen one year post-IPO is smart.
3️⃣ Key Characteristics
✅ Strong points on price range, non-marginability, breakout volume.
Minor quibble
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“RSI(14) often stays above 65 for years” is an exaggeration. RSI can trend high but rarely stays that high for years.
✅ Great advice on reward/risk and selling half.
✅ “No one ever went broke taking profits” is a solid investing truism.
4️⃣ On IPOs
✅ Good classification of IPO types.
✅ Sound historical failure rate.
✅ Smart questions to ask (innovative product, profitability).
Minor
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Could add real-world caution that even "proven" IPOs can disappoint.
5️⃣ IPO Investing Realities
✅ Excellent breakdown of lifecycle.
✅ Very good warning about lock-up periods.
✅ Advice about post-IPO buying is solid.
6️⃣ Evaluating IPOs Beyond Year One
✅ Advises moving beyond hype to real metrics.
✅ Caution about P/E over 50 is good.
✅ Debt/equity warning is essential.
✅ Cisco example works well (but be sure readers know this is ~2000 crash recovery, not recent).
7️⃣ Managing Winners
✅ Good mention of insider selling pressure.
✅ Very practical valuation thresholds (P/E under 35, check PEG).
✅ Stop-loss / trailing stop advice is solid.
✅ Good realism about slowing growth after 10 years.
8️⃣ Turnaround Plays
✅ Insider buying as a positive signal is classic advice.
✅ “Staircase patterns” is helpful.
9️⃣ Expect More Losers Than Winners
✅ Very good discussion of survival bias.
✅ Excellent reminder about risk-tolerant capital.
✅ Great list of historical context: Apple, MSFT, Oracle vs. Zynga, Groupon.
Minor issue
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The "no stock justifies a forward P/E over 40" needs nuance—some hypergrowth companies justify it (but your exception for breakthrough drugs is good).
10️⃣ IPO Market Trends
✅ Historical data adds credibility.
✅ International perspective is nice.
11️⃣ Tax Considerations
✅ Very practical.
✅ Good mention of stepped-up basis and donations.
✅ Advising consultation with a tax advisor is essential.
12️⃣ My Experience with Multi-Baggers
✅ This is excellent personal storytelling.
✅ Honest about turnover strategy, pros and cons.
✅ Emphasizes that this approach isn't universal.
Strength
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Transparency about selling too early, missing peaks.
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Sharing real returns (though rounded) builds trust.
Minor issues
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The sentence “I need to read my book periodically” feels overly casual and self-deprecating—it’s fine, but you might decide if that fits the tone you want.
SMCI Example
✅ Strong case study.
✅ Fidelity screen context adds credibility.
✅ Good realism about not catching the peak.
Minor issue
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Some annualized return % are extremely high—make sure they're calculated correctly if publishing.
TTWO Example
✅ Very clear.
✅ Good mention of fundamentals, industry trend.
✅ Nice detail about gifting to family.
NVDA Example
✅ Great personal anecdote about friend and ChatGPT.
✅ Shows research process.
✅ Clear on valuation view (forward P/E).
✅ Transparent about covered calls.
Minor issues
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Some numbers are messy (annualized returns vary a lot; check consistency).
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The phrase “I was forced to sell some in 2025 due to a covered call” is repeated.
✅ Love the closing note about listening to friends but doing research.
Overall recommendations
✅ You might want to:
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Check all the return calculations for consistency (annualized returns often seem wildly high).
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Clarify RSI language (maybe “can trend above 65 for extended periods” instead of “years”).
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Clean up minor grammar and redundancies.
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Decide on voice—do you want casual personal asides (“I need to read my own book”) or a more formal style?
Final verdict
🌟 Excellent content for investors—very practical, realistic, personal, and cautious about hype.
🌟 Needs minor polishing for style, consistency, and technical accuracy (especially return math).
🌟 Biggest strengths: transparency, concrete data, clear caution about risks, and personal experience that makes it relatable.
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