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The Shortest Economics Textbook Ever

  
  Education
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LITTLE-BOOK

5-THINGS

1. 95% of economics is common sense 

 

You don’t need a degree to understand it
 
We’ve got this profession wrong; a lot of professional economists think what they do is too difficult for ordinary people. You’d be surprised how often these people are stupid enough to say things, at least in private, like ‘you wouldn’t understand what I do even if I explained it to you’. If you cannot explain it to other people, you have the problem.
 
People express strong opinions on all sorts of things despite not having the appropriate expertise: climate change, gay marriage, the Iraq War, nuclear power stations. But when it comes to economic issues, many people are not even interested, not to speak of not having a strong opinion about them. When was the last time you had a debate on the future of the Euro, inequality in China or the American manufacturing industry, despite the fact that these issues can have a huge impact on your life, wherever you live?

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reminiscences

  
  Education
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RSOonlinestocktrading

Here is a link to a pdf version of Livermore’s story.  I couldn’t get the link to work, so you’ll have to copy and paste it in your browser.

http://www.trading-naked.com/library/jesse_livermore.pdf

Anyone interested in trading, here is the bible. Read it, re-read it, and live it, then go back and re-read it again.  While very outdated, this was one of the most influential books I ever read.  This book made me want to be a speculator.  Livermore made many mistakes in his life and died peniless, but what a run while he had it.

(Already I had read this book more then 10 times till today in last 14 years )

Nuggets of Wisdom from REMINISCENCES OF A STOCK OPERATOR.

  
  Education
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reminiscencesofstockoperator-1
Just Today evening again completed reading this book and this was I think 10th time I had read this book.Iam telling you this is a Bible for Day Traders.
Here are some of the Quotes/Nuggets from this Book.Just spare some time and read them ……
Of course there is always a reason for fluctuations, but the tape does not concern itself with the why and wherefore.
My plan of trading was sound enough and won oftener than it lost. If I had stuck to it I’d have been right perhaps as often as seven out of ten times.
What beat me was not having brains enough to stick to my own game.
But there is the Wall Street fool, who thinks he must trade all the time. No man can always have adequate reasons for buying or selling stocks daily or sufficient knowledge to make his. play an intelligent play.
The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall
Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.
It takes a man a long time to learn all the lessons of all his mistakes. (more…)

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