Archives of “greatest discovery” tag

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Inspirational Quotes

  
Education, Life
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1. “Great spirits have always encountered violent opposition from mediocre minds.” – Albert Einstein

2. “Act now. There is never any time but now, and there never will be any time but now.” – Wallace Wattles

3. “We are what we repeatedly do. Excellence, then, is not an act, but a habit.” – Aristotle

4. “The greatest discovery of my generation is that a human being can alter his life by altering the attitudes of his mind.” – William James

5. “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” – Charles Darwin

6. “There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

7. “In three words I can sum up everything I’ve learned about life: It goes on.” – Robert Frost

8. “You’ve got to win in your mind before you win in your life.” – John Addison

9. “Life shrinks or expands in proportion to one’s courage.” – Anais Nin

10. “An ounce of doing things is worth a pound of theorizing.” – Wallace Wattles

11. “The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty.” – Winston Churchill

12. “Our ultimate freedom is the right and power to decide how anybody or anything outside ourselves will affect us.” – Stephen Covey

13. “The aim of an argument or discussion should not be victory, but progress.” – Joseph Joubert

14. ”Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved.” – Winston Churchill

15. “Don’t wait for a light to appear at the end of the tunnel Stride down there and light the bloody thing yourself.” – Dara Henderson

16. “Your life does not get better by chance, it gets better by change.” – Jim Rohn

17. “Vision without action is just a dream, action without vision just passes the time, vision with action can change the world” – Nelson Mandela

18. “Only those who will risk going too far can possibly find out how far one can go.” – T.S. Eliot

19. “To live is the rarest thing in the world. Most people exist, that is all.” – Oscar Wilde

20. “Freedom is not the absence of commitments, but the ability to choose yours.” – Paulo Coelho

21. “Conformity is the jailer of freedom and the enemy of growth.” – John F. Kennedy

22. “I am tomorrow, or some future day, what I establish today. I am today what I established yesterday or some previous day.” – James Joyce

23. “I have learned that it’s not WHAT I have in my life but WHO I have in my life that counts.” – Unknown

24. “Go confidently in the direction of your dreams. Live the life you have imagined.” – Henry David Thoreau

25. “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” – Jim Rohn (more…)

Five Timeless Rules of Investing Learned From Jesse Livermore

  
  Education
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.  “My greatest discovery was that a man must study general conditions, to size them up so as to be able to anticipate probabilities.”  What did Livermore mean by “general conditions”?  He meant the macroeconomic environment and geopolitics.  Are they favorable or not favorable to buying stocks?  Today, the Fed is raising rates and squeezing the money supply (the monetary base declined last month for the first time in years; a year ago, it was going up 10%.)  The war in the Middle East is heating up.  These general conditions are not conducive to a bull market, except for gold!

2.  Learn from wise old men who have experience in the markets.  In Reminiscences of a Stock Operator , the author talks about “the Old Turkey,” a “very wise old codger” who counseled Jesse Livermore on making good investment decisions and avoiding mistakes.  How can you do this?  The best way is to read histories of the great investors such as Warren Buffett, Peter Lynch, John Templeton and J. Paul Getty.

3.  Learn your strengths and weaknesses.  “We’ve all got a weak spot.  What’s yours?” asks the Old Turkey.  A good question that we must all answer.  “Study mistakes,” he counsels.  You don’t learn from your successes, only from your mistakes!

4.  Always save some of your gains.  “I was again living pretty well, but always saving something, to increase the stake that I was to take back to Wall Street.”  Unfortunately, Livermore made the mistake of not living up to his own advice.  He leveraged himself too much, and often went bankrupt.  By taking some of your gains and investing the funds in alternative investments, such as real estate, art and collectibles, or gold coins, you protect yourself in case you are wrong.

This reminds me of something that happened to me many years ago.  I had made a $2 million profit on a penny stock and my wife sat me down and insisted I pay off the mortgage, which was sizeable.  I told her I preferred to reinvest the profits in more penny stocks, but she insisted, and I finally agreed with her and paid off the mortgage.  It was the best decision “I” ever made!  Had I invested the profits in more penny stocks, I would have lost my shirt, because the penny stocks went into a major bear market soon after.

5.  Beware the charismatic financial guru!  “It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.”  Oh, how true.  I well remember the times I invested in several tax shelters that eventually went bust, because I was thoroughly convinced by a smooth talking salesman who seemed brilliant at the time.

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