Thursday, July 26, 2012

Performance

"The Difference between performance and out performance often comes down not to what you buy,but how you buy it" - Jim Cramer

Discovery

"I will not say I failed 1000 times,I will say that I discovered 1000 ways that can cause failure." - Thomas Alva Edison

Risk

Risk comes from not knowing what you're doing.

Sunday, July 22, 2012

My sitting tight

"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at ex...actly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money."

Jesse Livermore in Reminiscences of a Stock Operator.