I love both my parents dearly.
There are a million ways to make money in the markets. The irony is that they are all very difficult to find.
Being wrong is acceptable, but staying wrong is totally unacceptable.
Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price
The ability to change one's mind is probably a key characteristic of the successful investor. Dogmatic and rigid personalities rarely, if ever, succeed in the markets. The markets are a dynamic process, and sustained investment success requires the ability to modify and even change strategies as markets evolve.
One of my favorite patterns is the tendency for the markets to move from relative lows to relative highs and vice versa every two to four days. This pattern is a function of human behavior. It takes several days of a market rallying before it looks really good. That’s when everyone wants to buy it, and that’s the time when the professionals, like myself, are selling. Conversely, when the market has been down for a few days, and everyone is bearish, that’s the time I like to be buying.
You don't have to get in or out of a position all at once. Avoid the temptation of wanting to be completely right.
The world isn't getting any easier. With all these new inventions I believe that people are hurried more and pushed more. . . The hurried way is not the right way; you need time for everything - time to work, time to play, time to rest.
People's first homes are always disasters. It's like the first time you have sex. It's never as good as later on. It always gets better.
. . . it was religion that saved me. Our ugly church and parochial school provided me with my only aesthetic outlet, in the words ofthe Mass and the litanies and the old Latin hymns, in the Easter lilies around the altar, rosaries, ornamented prayer books, votive lamps, holy cards stamped in gold and decorated with flower wreaths and a saint's picture.
What happens with fear is that probability doesn't matter very much. That is, once I have raised the possibility that something terrible can happen to your child, even though the possibility is remote, you may find it very difficult to think of anything else. Emotion becomes dominant.