“Time is your friend; impulse is your enemy.” John (Jack) Bogle - “When reward is at its pinnacle, risk is near at hand.” John (Jack) Bogle
- “Rule no. 1 is never loose money. Rule no. 2 is never forget rule number one.” Warren Buffett
- “Look at market fluctuations as your friend rather than your enemy. Profit from folly rather than participate in it.” Warren Buffett
- “I paraphrase Lord Rothschild: The time to buy is when there is blood on the streets.” David Dreman
- “It is absurd to think that the general public can ever make money out of market forecasts.” Benjamin Graham
- “The whole secret to winning and losing in the stock market is to lose the least amount possible when you are not right.” William J. O Neil
- “It is not whether you are right or wrong that is important, but how much money you make when you are right and how much you lose when you are wrong.” George Soros
- “If you want to have a better performance than the crowd, you must do things differently from the crowd.” John Templeton
- “My first rule is not to lose money. Losing an opportunity is minor in comparison, because there are always new opportunities around the corner.” Burt Dohmen
- “Experienced traders control risk, inexperienced traders chase gains.” Alan Farley
- “Most traders take a good system and destroy it by trying to make it into a perfect system.”
- “Trade what you see, Not what you think”
- “A Technician is an Artist and Technical Analysis is the Super Skill of discovering sharp and compact Charts and Patterns depicting Trends and Targets with Precision and Perfection.”
- “Identifying the “Rhythmic Flow” of Financial Instruments for skimming the crème, quietly and consistently is the fascinating nature of the Technician’s profession.”
- “Like any craft, such as piano playing, perfection may be elusive – I’ll never play a piece perfectly, and I’ll never buy the low and sell the high – but consistency is achievable if you practice day in and day out.”
- “You never need to chase a trade. The market has plenty of opportunities. The money runs out before the opportunities do.”
- “Good trading is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.”
- “Always understand the risk/reward of the trade as it now stands, not as it existed when you put the position on.”
- “At all levels of play the secret of success lies not so much in playing well as in not playing badly.”
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“Time is your friend; impulse is your enemy.” John (Jack) Bogle Peter Lynch
Probably you have heard of Peter Lynch. But did you know that in 13 years, from 1977 to
1990, the Fidelity Magellan Fund he managed grew from $20m to a whopping $14b?!
One of his famous buy, Subaru, was already up twentyfold when he bought the stock and he made sevenfold after that.
Quotes from Peter are as follows:
“Go for a business that any idiot can run – because sooner or later, any idiot is probably going to run it.”
“If you stay half-alert, you can pick the spectacular performers right from your place of business or out of the neighborhood shopping mall, and long before Wall Street discovers them.”
“Investing without research is like playing stud poker and never looking at the cards.”
“Absent a lot of surprises, stocks are relatively predictable over twenty years. As to whether they’re going to be higher or lower in two to three years, you might as well flip a coin to decide.” (more…)
What Warren Buffett said…
* For some reason, people take their cues from price action rather than from values. What doesn’t work is when you start doing things that you don’t understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it’s going up.
* Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
* The important thing is to keep playing, to play against weak opponents and to play for big stakes.
* Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.
* There are all kinds of businesses that Charlie and I don’t understand, but that doesn’t cause us to stay up at night. It just means we go on to the next one, and that’s what the individual investor should do. (more…)