Monday, 23 October 2017


"The markets are the same now as they were five to ten years ago because they keep changing— just like they did then."
-- Ed Seykota

Wednesday, 18 October 2017


"Of course, after a while, I heard a lot of calamity howling and the old stagers said everybody—except themselves—had gone crazy. But everybody except themselves was making money. I knew, of course, there must be a limit to the advances and an end to  the crazy buying of A. O. T.—Any Old Thing—and I got bearish. But every time I sold I lost money, and if it hadn’t been that I ran darn quick I’d have lost a heap more."
-- Livermore

Friday, 13 October 2017


"One cannot but pity the man with sallow face and sluggish gait who when everybody else is feeling the happy impulse
of a common prosperity persists in believing that the country is going to the dogs, and steadily sells stocks while everybody else is buying them. He is simply ruining himself" (Clews, 1908, p. 19)

Reference: Clews, Henry, and Victor Niederhoffer. Fifty Years in Wall Street. J. Wiley & Sons, 2006.