Quote of the Day

On the importance of determining the type of market one is trading in: 

"I recalled old Partridge’s favourite remark—'Well, this is a bull market, you know'—as though that were tip enough for anybody who was wise enough; as in truth it was."

-- J.L.

Quote of the Day

"Observation, experience, memory and mathematics—these are what the successful trader must depend on. He must not only observe accurately but remember at all times what he has observed. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions may be about man’s unreasonableness or however certain he may feel that the unexpected happens very frequently. He must bet always on probabilities—that is, try to anticipate them."

-- J.L.

Quote of the Day

On the importance of compound interest.

"Life is like a snowball. The important thing is finding wet snow and a really long hill."

-- Warren Buffett

Quote of the Day

On judicious manipulation as a form of stock advertisement (see: Square (SQ)):

"It is well to remember a rule of manipulation, a rule that Keene and his able predecessors well knew. It is this: Stocks are manipulated to the highest point possible and then sold to the public on the way down." -- J.L.

QOTD

Take Time 

Old English Prayer 

Author Unknown

Take time to work, it is the price of success.

Take time to think, it is the source of power.
Take time to play, it is the secret of perpetual youth.
Take time to read, it is the foundation of wisdom.
Take time to be friendly, it is the road to happiness.
Take time to dream, it is hitching your wagon to a star.
Take time to love and be loved, it is the privilege of the gods.
Take time to look around, it is too short a day to be selfish.
Take time to laugh, it is the music of the soul.

 

QOTD

"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