It’s a lot of fun finding a country that nobody knows about. The only thing better is finding a country everybody’s bullish on and shorting it.
I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.
My basic advise is don’t lose money.
The last leg of a bull market always ends in hysteria; the last leg of a bear market always ends in panic.
I haven’t met a rich technician.
Historically, there has been a bull market in commodities every 20 or 30 years.
The most sensible skill that I can give to somebody born in 2003 is a perfect command of Mandarin.
Paper money is made of cotton, and I’m long cotton, by the way. One reason I’m long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.
There is no such thing as a paper loss. A paper loss is a very real loss.
If anybody laughs at your idea, view it as a sign of potential success!
I was poor once, I didn’t like it, I don’t want to be poor again.
If you want to be lucky, do your homework.
You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.
I’ve got one shot going through this life. I want to make sure I do as much as I can.
You don’t train for only the 100-meter dash and you don’t practice only the excerpts. When I prepared for auditions, I spent most of my time each day on scales and exercises to be my best in basic musicianship, and only a half-hour or so on the actual excerpts I’d be playing.
Commodities tend to zig when the equity markets zag.
Tough times helped many commodities traders become lean and mean through consolidation, mergers and cost cutting. All that excess supply has been sopped up.
Do not buy the hype from Wall St. and the press that stocks always go up. There are long periods when stocks do nothing and other investments are better.
Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.
When things go wrong on a macroeconomic level, it’s almost always this way. People find someone to blame, whether it’s blacks, whites, Christians, Jews, Muslims-whoever.