- LAO TZU
Those who have knowledge don’t predict. Those who predict don’t have knowledge.
- LOUIS BACON
As a speculator you must embrace disorder and chaos.
- LUDWIG BORNE
Losing an illusion makes you wiser than finding a truth.
- MARK COOK
To succeed as a trader, one needs complete commitment. Those seeking shortcuts are doomed to failure. Even if you do everything right, you should still expect to lose money during the first five years. These are cold and hard facts that many would-be traders prefer not to hear or believe but ignoring them doesn’t change the reality.
- MARK VAN STOLK
I learned you are not trading a commodity – you are buying and selling risk. As a technical trader, that’s the only way to look at it.
- MARTY SCHWARTZ
The traders would rather lose money than admit they are wrong. I became a winning trader when I was able to say “To hell with my ego, making money is more important.”
- MICHAEL MILKEN
My experience indicates that most people who’ve accumulated a great deal of wealth haven’t had that as their goal at all. Wealth is only a by-product, not the original motivation.
- NEAL WEINTRAUB
You will run out of money before a guru runs out of indicators.
- NIELS BOHR
Prediction is very difficult, especially about the future.
- PAUL CLITHEROE
Invest in yourself. Your career is the engine of your wealth.
- PAUL SAMUELSON
Economists have correctly predicted nine of the last five recessions.
- PETER LYNCH
Twenty years in this business convinces me that any normal person using the customary three percent of the brain can pick stocks just as well, if not better, than the average Wall Street expert.
- PHILLIP FISHER
The stock market is filled with individuals who know the price of everything, but the value of nothing.
- RALPH SEGER
You can never predict when that unknown torpedo will come out of the dark and smash the price of a stock.
- RAY DALIO
More than anything else, what differentiates people who live up to their potential from those who don’t is a willingness to look at themselves and others objectively.
- RENE DESCARTES
If you would be a real seeker after truth, it is necessary that at least once in your life you doubt, as far as possible, all things.
- RICHARD DENNIS
I agree with the metaphysics of technical analysis that the fundamentals are discounted. You don’t get any profits from fundamental analysis; you get profit from buying and selling. So why stick with the appearance when you can go right to the reality of price and analyze it better?
- RICHARD DENNIS
There’s nothing quite as good or bad as trading. They give you a number every day. That’s what is good about it and that’s what’s bad about it. That’s what makes it hard. That’s what makes it worth doing.
- ROBERT ARNOTT
In investing, what is comfortable is rarely profitable.
- SAMUEL JOHNSON
Without frugality, none can be rich, and with it, very few would be poor.
- SETH KLARMAN
While some might mistakenly consider value investing a mechanical tool for identifying bargains, it is actually a comprehensive investment philosophy that emphasizes the need to perform in-depth fundamental analysis, pursue long-term investment results, limit risk and resist crowd psychology.
- SIGMUND FREUD
From error to error, one discovers the entire truth.
- SIR JOHN TEMPLETON
To buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest reward.
- SOREN KIERKEGAARD
It’s quite true what philosophy says, that life must be understood backwards. But one then forgets the other principle, that is must be lived forwards. A principle which, the more one thinks it through, precisely leads to the conclusion that life in time can never be properly understood, just because no moment can acquire the complete stillness needed to orient oneself backward.
- STEVE COHEN
The old guard wasn’t crazy about me; I used to hear it all the time. Most of the old-school had no belief in anything that wasn’t based on fundamental analysis. We were trading more than investing and people frowned on it. They looked at it and didn’t want to partake. Finally, they said, “Shoot. He’s Making Money” and they started copying me.
- THEODORE ROOSEVELT
Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure than to take rank with those poor spirits who neither enjoy much nor suffer much, because they live life in the gray twilight that knows no victory nor defeat.
- VICTOR SPERANDEO
The key to trading success is emotional discipline. Making money has nothing to do with intelligence. To be a successful trader you have to be able to admit mistakes. People who are very bright don’t make very many mistakes. Besides trading, there is probably no other profession where you have to admit when you’re wrong. In trading, you can’t hide your failures.
- WARREN BUFFET
The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.
- WILLIAM BERNSTEIN
There are two kinds of investors, be they large or small: those who don’t know where the market is headed and those who don’t know that they don’t know. Then again, there is a third type of investor – the investment professional, who indeed knows that he or she doesn’t know, but whose livelihood depends upon appearing to know.
- WILLIAM FEATHER
One of the funny things about the stock market is that every time one person buys, another sells and both think they are astute.
- WILLIAM FOSTER
Quality is never an accident; it is always a result of high intention, sincere effort, intelligent direction and skillful execution.
- WINSTON CHURCHILL
The further back you can look, the father forward you can see.