Wednesday, March 27, 2019   12:52:23 AM
You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot. Some stocks go up 20-30 percent and people get rid of them and hold onto the dogs. It's sort of like watering the weeds and cutting out the flowers.
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Everything gets destroyed a hundred times faster than it is built up. It takes one day to tear down something that might have taken ten years to build. If the economy starts to go with the kind of leverage that is in it, it will deteriorate so fast that people's heads will spin. I hate to believe it, but in my gut that is what I think is going to happen. I know from studying history that credit eventually kills all great societies. We borrowed against the future, and soon we will have to pay.
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- Paul Tudor-Jones (1989)
Crazy facts
Crazy investing facts from Michael Batnick: Since 1916, the Dow has made new all-time highs less than 5% of all days, but over that time it’s up 25,568%. 95% of the time you’re underwater. The less you look the better off you’ll be. The Dow has ...
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Wednesday, March 20, 2019
What not to do
“A lot of success in life comes from knowing what you want to avoid: early death, a bad marriage, etc.,” says Charlie Munger. “If you want it short, try Buddha, who said, ‘I only teach one thing: I teach the cause of human sorrow and how to avoid some of it.’ That's my approach: ...
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Tuesday, March 19, 2019
Best avoided
In the Harriman House Book of Investing Rules Richard Driehaus points to a few investment paradigms that might be best avoided. One of the best known of these is buy low, sell high. “But I believe more money can be made by buying high ...
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Tuesday, March 19, 2019
Trading sardines
An older gentleman was walking along the wharf watching the fishing boats return from a hard day’s work... a group of men crowded at the end of the wharf ... They were bidding on a rare can of sardines. “Hundred dollar bid, hundred dollar bid ...
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Thursday, March 14, 2019
In time
Over shorter periods, your results are highly contingent on luck and chance. This is vital to understand because you might see a bad process provide excellent results due entirely to chance and a good process provide poor results for the same reason. ...
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Wednesday, March 13, 2019
Should know
When it comes to trading the markets, the default assumption is that we all want to win. But as Ed Seykota points out in Market Wizards, that’s not always the case. He tells the story of a trader friend who consistently losses all he makes ...
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Tuesday, March 12, 2019
a non-financial read ...
“For many of today’s rich there is no such thing as ‘leisure’; in the classic sense—work is their play,” the economist Robert Frank wrote in The Wall Street Journal. “Building wealth to them is a creative process, and the closest thing they have to fun.”
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the Bottom Line ...
In his book, One Up on Wall Street: How to use what you already know to make money in the market, Peter Lynch suggests that the best place to begin looking for a tenbagger is close to home. “If not in the backyard then down in the shopping mall, and especially wherever you happen to work… the customers in central Ohio where Kentucky Fried Chicken first opened up, the mob down at Pic ‘N’ Save, all had a chance to say, ‘This is great; I wonder about the stock,’ long before Wall Street got its original clue.
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