Economics is in many respects the queen of the soft sciences. It’s expected to be better than the rest. It’s my view that economics is better at the multi-disciplinary stuff ...
The question isn’t “Is the market efficient?” but rather “How inefficient is the market?” and “How can we exploit this?”
- Edward Thorp
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
– George Soros
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It is not important that the basic value of the shares be practically nothing as long as there are other people willing to close their eyes and support those contradictions.
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The best investors talk about being keenly aware of what they know and don’t know. Mediocre or dishonest investors pretend they know. Bad investors don’t even know they don’t know.
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Greed, Fear, Impatience, Ignorance, and Hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes the speculator may become demoralized, depressed, despondent, and ...
It wasn't anything to be proud of, when you think that I had been broke three times in less than two years. And being broke is a very efficient educational ...
The emotional burden of trading is substantial; on any given day, I could lose millions of dollars. If you personalize these losses, you can’t trade
- Bruce Kovner
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Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women).
- Richard Wyckoff
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