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Wit and Wisdom on Money, Wall Street and Success - Part #4
Can you concisely summarize your investment philosophy in a few sentences? My experience is that most people can't. The quotes that follow are diamonds that offer a real powerful education in the world of Risk Management. They have had a profound impact in my life. I pass them along hoping they achieve a similar effect on your investments. Enjoy! 1) "Rule No. 1: Never lose money. Rule No 2: Never forget Rule No. 1." - -Warren Buffett 2) "Large profits can be made in common stocks. Large losses can be made in common stocks." -Peter Lynch 3) "A fool and his money are soon parted." -Unknown 4) "A fool and his money were lucky to get together in the first place." -W.C. Fields 5) "You should invest in a business that even a fool can run, because someday a fool will." - Warren Buffett 6) "The key in life is to figure out who to be the bat boy for." -Warren Buffett 7) "Let Wall Street have a nightmare and the whole country has to help them get back to bed again." - Will Rogers, The Autobiography of Will Rogers 8) "There are two fools in every market. One asks too little, the other asks too much." - Russian Proverb 9) "The elements of good trading: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance." -Ed Seykota 10) "That market doesn't care whether you are IN or OUT! With that being the case, my question is who are you competing against? Most people will answer 'everyone else' my response is 'look in the mirror.'" - Harald Anderson Analyst at eOptionsTrader.com Harald Anderson is the founder and Chief Analyst of eOptionsTrader.com a leading online resource of Options Trading Information. He writes regularly for financial publications on Risk Management and Trading Strategies. His goal in life is to become the kind of person that his dog already thinks he is. http://www.eOptionsTrader.com.
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