The following is an excerpt from Michael McCarthy's upcoming book, How to Sell (When You Don't Want To).

Dale Carnegie is a legend in Sales and Psychology and how humans operate. Years ago, Carnegie shared a success formula that is simple and has withstood the test of time. Here it is for you:

Success = Persistence + Enthusiasm + Common Sense

Most likely you have seen this formula in other forms. I like it because it is so simple.

“Flaming enthusiasm, backed by horse sense and persistence, is the quality that most frequently makes for success.”— Dale Carnegie

In 1994, at the age of 26, I became the #1 Stock Market Timer in the United States. I held that title every year until I retired in 2006 at the age of 36. Here is how I did it using the Success Formula:


My childhood dream was to be a famous Wall Street money manager. I grew up in Maryland and when I turned 18 I moved to New York City and attended New York University because it was the the closest University to Wall Street.

I got a job in the printing room of Shearson Lehman Brothers in September of 1984 and (while still a teenager) I legitimately ‘worked on Wall Street’. I continued to switch jobs on Wall Street working for more and more successful people who became my mentors.

At the age of 24 I landed a job with Gerald Appel, creator of MACD and Market Timing, as a trader and researcher. Eventually, Jerry became my mentor and taught me how to start my own money management firm.


I worked 8-12 hour days. I ate, drank and slept my dream of being a famous money manager. I worked with enthusiasm into the middle of the night and on weekends. My enthusiasm was contagious and my mentors liked my hunger. It never occurred to me that I was inspiring them as well. My enthusiasm was contagious and they helped me more.

Common Sense

As a market timer my job was to sell my clients out of the stock market before major declines. That’s market timing. Using math formulas I created with the mentorship of Gerald Appel I was able to accurately detect when risk was too high in the market.

It made common sense that someone would hire me to monitor their life savings to protect it from a market decline. Within 5 years I was managing over $100 million because my business made sense and I delivered to my clients by avoiding every major decline from 1994-2004.

Success in a Nutshell

I used this formula and it worked for me. It will work for you as well. I would also encourage you to find a mentor to help you speed up the process. There are very few original ideas left in the world and there is no need to reinvent the wheel.

Keep it simple.

Ace-up Executive Coach Michael McCarthyMichael McCarthy is an Sales, Communication, & Executive Coach at Ace-up who loves to listen and to help, as well as enjoying adventure and exploration. In 2016 Michael focused fully on teaching and coaching by developing the Leadership Sailing Program for MIT Sloane School Executive Education. He also started Power Speaking Coach to teach others how to speak effectively. Michael enjoys experiential teaching and developing programs to help people be better versions of their current selves.

Learn more about Michael