• Investing is the most difficult of sports: nowhere else does one begin a career by opposing the world’s most accomplished professionals.

    • Respect is the first casualty in lost love.

    • Four industries dominate the economy: hope, escape, protection, and convenience.

    • 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 in sequence.

    • 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 himself.

    • Trading is the only sport in which the rules governing the players change constantly—and without notice.

    • The essential message of Web 2.0: Knowledge resides in minds, not just mind.

    • 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 self-improvement.

    • 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 prepared.

    • Self esteem is treating ourselves with justice, not kindness.

    • Addiction: when the desire to trade exceeds the desire to make money.