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Friday, March 26, 2010

Financial Wisdom

It's a good thing to learn from other people's experience and wisdom. Often it's not so easy though. In investing and finances as in almost every other area of life we all learn best from our own mistakes. Unfortunately sometimes the price is too high.
Here is a collection of smart quotes we could learn from. The list will be updated from time to time.

  • "I often remind our analysts that 100% of the information you have about a company represents the past, and 100% of a stock's valuation depends on the future." Bill Miller

  • "Fourth Law of Motion: For investors as a whole, returns decrease as motion increases." Warren Buffet

  • It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. J. Livermore

  • The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. J. Livermore

All the above Livermore quotations are from the book "Reminiscences of A Stock Operator".

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