There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.
Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.
It never was my thinking that made the big money for me. It always was my sitting.
Money is made by sitting, not trading.
No one ever went broke by taking a profit.
Experience has proved to me that real money made in speculating has been in commitments in a stock or commodity showing a profit right from the start.
Start with the end in mind. If you want to be a millionaire, talk like one, act like one, work like one.
Every time you spend money, you’re casting a vote for the kind of world you want.
Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
Money doesn’t know about clocks, schedules, or holidays, and you shouldn’t either. Money loves people who have a great work ethic.
Rich people invest money and poor people spend it.
Don’t go to work to work, go to work to prosper.
Either make your money work for you or you will always have to work for your money.
I have two basic rules about winning in trading as well as in life: 1. If you don’t bet, you can’t win. 2. If you lose all your chips, you can’t bet.
Your network is your net worth.
If you can’t take a small loss, sooner or later you will take the mother of all losses.
Risk no more than you can afford to lose, and also risk enough so that a win is meaningful.
Everyone has a price, the important thing is to find out what it is.
The markets are unforgiving, and emotional trading always results in losses.
The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.