William O’Neil

By 1992, I had earned my undergraduate degree from Mercer University and was already focused on understanding America’s prison system and the people it incarcerated. However, I knew that simply understanding the system wasn’t enough. If I wanted to earn a living after I got out, I would need to develop skills that could generate income streams.

With no financial resources available, I turned my attention to investing—not with money, but with time. My sister subscribed to Investor’s Business Daily (IBD) on my behalf. I immersed myself in this resource, devouring the insights offered by its founder, William O’Neil. I also requested his books, including How to Make Money in Stocks. These materials opened a world of opportunity by teaching me about the art of technical analysis and fundamental analysis.

Who Was William O’Neil?

William O’Neil is an American entrepreneur and investor. He was the founder of Investor’s Business Daily, a financial newspaper designed to help readers make informed investment decisions. He is best known for creating the CAN SLIM investing strategy, which combines elements of technical and fundamental analysis to identify high-performing stocks.

O’Neil’s methods focus on analyzing companies with strong earnings growth, efficient management, and compelling market potential, while also identifying market trends through charts and price movements. His work emphasizes a disciplined approach to investing—backed by data, patterns, and research—while minimizing emotional decision-making.

I enjoyed learning from O’Neil’s systematic approach. It suggested that anyone willing to study and apply themselves could participate in the stock market, even if the person was serving multiple decades in prison.

Lessons I Learned from William O’Neil

1. The CAN SLIM Strategy
   O’Neil’s CAN SLIM methodology provided a blueprint for identifying growth stocks. Each letter in CAN SLIM stands for a key criterion:
   • C: Current earnings per share growth
   • A: Annual earnings growth
   • N: New products, services, or management
   • S: Supply and demand for the stock
   • L: Leader or laggard in the industry
   • I: Institutional sponsorship
   • M: Market direction
     
     These principles taught me to look for companies with a proven track record of growth and the potential for future success. By applying this framework, I could make more informed decisions about where to allocate my limited resources.
2. Technical Analysis: Reading the Charts
   Technical analysis focuses on interpreting stock charts to identify price patterns and market trends. Through Investor’s Business Daily, I studied price-volume relationships, moving averages, and chart setups like breakouts.
   
   The ability to analyze charts gave me a new perspective on market behavior. It wasn’t just about picking the right company—it was also about timing. This skill would later enable me to make smarter decisions with limited capital, multiplying the impact of each dollar.
   ‍
3. Fundamental Analysis: Understanding the Business
   While technical analysis helped me understand the when of investing, fundamental analysis taught me the why. O’Neil emphasized the importance of researching a company’s financial health, including earnings reports, revenue growth, and competitive advantages.
   
   This lesson transcended investing—it became a framework for evaluating opportunities in life. Whether it was a potential business idea, partnership, or investment, I learned to assess the underlying fundamentals before making a commitment.

Building Income Streams Behind Bars

These lessons weren’t just theoretical. As I developed more skills in prison, I began to earn financial resources from my writing. I put those resources to work, along with the lessons I learned from studying markets. I started small, using the stock market to grow my earnings from writing projects.

As I gained confidence, I used margin to leverage growth.

By the time I married Carole in a prison visiting room during my 16th year of incarceration, I had built a foundation of financial security. When I walked out of prison in 2012, I had over $100,000 in savings. That nest egg was the direct result of applying O’Neil’s principles and investing in myself.

The Broader Lessons

William O’Neil’s influence extended beyond stock charts and investment strategies. His work taught me:

• The importance of self-education: Learning doesn’t stop when resources are scarce. Investing time in books, newspapers, and articles can open new opportunities.
• Discipline and patience: Successful investing, like personal development, requires consistent effort and the ability to weather setbacks.
• The value of strategic thinking: Whether analyzing a stock or planning my future, having a strategy gave me an edge in achieving my goals.
  

Reflection for Readers

William O’Neil’s teachings helped me build financial security from within the most restrictive circumstances. His lessons on technical and fundamental analysis became a framework for evaluating opportunities and taking calculated risks.

‍