Life and Markets

LIFEANDMARKETRespect 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.

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.

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.