Investing is the most difficult of sports:
nowhere else does one begin a career by opposing the worlds most
Respect is the first casualty in lost love.
Four industries dominate the economy: hope, escape, protection, and
Success is the point at which talent and skill meet opportunity.
The aim of all trading education: to encourage trading.
The printing press democratized the acquisition of knowledge; the
computer has democratized its dissemination.
Date markets before deciding to marry them.
Anatomy of a bad trade: Hope, then despair.
Love, once present, never dies. It must be killed.
Many a trader fears boredom more than loss, thereby experiencing the two
Work without talent is drudgery; talent without work is self-betrayal.
Good traders master a market; great traders master markets.
Goodness of character is measured in loyalty to others; greatness of
character is measured in loyalty to principle.
One encounters losing traders as often as one encounters losing
golfers--and for much the same reason.
Show me what a man loathes, and I will show you what he cannot accept in
Trading is the only sport in which the rules governing the players
change constantlyand without notice.
The essential message of Web 2.0: Knowledge resides in minds, not just
Two traders: one increases size after a loss; the other gets smaller.
Both continue to lose.
The absence of self-acceptance too often masquerades as the quest for
Fidelity to purpose: the mark of good investments and great investors.
Talent is the better part of trading psychology.
The foolhardy trade is the courageous trade held a few minutes longer.
In all fields, performance belongs not just to the talented, but to the
Self esteem is treating ourselves with justice, not kindness.
Addiction: when the desire to trade exceeds the desire to make money.