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Dhirubhai Ambani's W-I-L-L

  
Education, Humour
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mu-cash-anil
quotes
“I am deaf to the word “no”.”
“Think big, think fast, think ahead. Ideas are no one’s monopoly”
“You do not require an invitation to make profits.”
“If you work with determination and with perfection, success will follow.”
“Pursue your goals even in the face of difficulties, and convert adversities into opportunities.”
“We bet on people.”
“Meeting the deadlines is not good enough, beating the deadlines is my expectation.”
“Don’t give up, courage is my conviction.”
“We cannot change our Rulers, but we can change the way they Rule Us.”
My Hot Favourite quotes are :Number 1 ,6 and last.
Just comment if possible.
Updated at 28th August/Baroda

Lies Investors Believe

  
  Education

CoifLWLWEAAQT5cAbout twenty percent of the public believes any insane, illogical idea a creative survey-maker may dream up. This is known as the “one-in–five rule.” Let’s look at some of the wild things our friends and neighbors might believe:

  • The cause of the disappearance of Malaysia Airlines flight 370 was due to space aliens, time travelers, or beings from another dimension.
  • Agenda 21 is a top-secret program, funded by Rockefeller and Ford Foundations, to battle overpopulation. They are paying Monsanto to develop genetically modified foods that slowly kill the people who eat them.
  • One-in-five Americans believe the vaccine-autism legend to be true.
  • Twenty percent of people believe that health officials know that cell phones cause cancer but are doing nothing to stop it because large corporations won’t let them (Source: Oliver and Wood, JAMA Internal Medicine).

Could investors also fall prey to mass delusions like these? As Sarah Palin would say, “You betcha!” Though not as interesting as some of the above items, many fallacies investors believe can be more dangerous.

Here are some of the more common things I have heard over the years:

  • Owning lots of mutual funds makes a portfolio diversified.
  • Paying more for investments will lead to higher returns.
  • All financial advisors are required to look out for their clients’ best interests.
  • Mixing investing and politics is a good idea.
  • Interesting stories make great investments.
  • A daily check on investments is a smart way to protect them.

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A Dozen Reflections on Life and Markets

  
  Education
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reflectiononlifeI’ve never seen a trader succeed whose explicit or implicit goal was to not lose. The trader who trades to not lose is like the person who lives to avoid death: both become
spiritual hypochondriacs.

No union was ever destroyed by a failure of romance. It is the loss of respect, not love, which ends a relationship.

Love, once present, never dies. It must be killed.

Sometimes we select markets–and trading styles–much as we choose romantic partners: by their ability to validate our deepest-held images of ourselves. Our choices generally succeed, for better or for worse.

Many a trader fears boredom more than loss, thereby experiencing the two in sequence. (more…)

Wisdom Thoughts for Traders & Investors

  
  Education
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1. Make all your mistakes early in life: The more tough lessons you learn early on, the fewer (bigger) errors you make later. A common mistake of all young investors is to be too trusting with brokers, analysts, and newsletters who are trying to sell you something.

2. Always make your living doing something you enjoy: Devote your full intensity for success over the long-term.

3. Be intellectually competitive: Do constant research on subjects that make you money. Plow through the data so as to be able to sense a major change coming in the macro situation.

4. Make good decisions even with incomplete information: Investors never have all the data they need before they put their money at risk. Investing is all about decision-making with imperfect information. You will never have all the info you need. What matters is what you do with the information you have. Do your homework and focus on the facts that matter most in any investing situation.

5. Always trust your intuition: Intuition is more than just a hunch — it resembles a hidden supercomputer in the mind that you’re not even aware is there. It can help you do the right thing at the right time if you give it a chance. Over time, your own trading experience will help develop your intuition so that major pitfalls can be avoided.

6. Don’t make small investments: You only have so much time and energy so when you put your money in play. So, if you’re going to put money at risk, make sure the reward is high enough to justify it.

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