The game of speculation quotes

The trading game of speculation by Jesse Livermore

Speculators are not interested in putting their money into a stock or commodity for a long time. They want to see a good profit quickly – on a time scale of minutes to months. If their money does not quickly perform well in a situation, they move it into another situation. In pursuit of greater gain, speculators take greater risks with their capital than people who put their money into Savings & CD Accounts. For … Continue reading

Prediction and Trading

Actions and results in trading history

Failed Prediction from History. Economist and Yale professor Irving Fisher spent the early 20th century as one of the undisputed wizards of Wall Street. Today, however, he is best known for making what is perhaps the most disastrously timed stock market prediction in history. The call came in early October 1929, in the days after stock prices leapt to dizzying new heights. Some claimed the jump was a sign that a massive crash was imminent, … Continue reading

Trading versus Gambling

Man is a gaming animal. He must always be trying to get the better in something or other. Charles Lamb The market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch. The problem when you’re a money manager is that your fans keep yelling, “Swing, you bum! Warren Buffet There are just four kinds of bets. There are good bets, bad bets, bets that you win, … Continue reading