Smoking Securities

Half Baked High Finance

Posts Tagged ‘Quote Critique

Quote Critique

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100% I did. 90% I will. 80% I can. 70% I think I can. 60% I might. 50% I think I might. 40% What is it? 30% I wish I could. 20% I don’t know how. 10% I can’t. 0% I won’t.

– (Ladder of Achievement)

This was too unusal for me to skip, but I truly have no comment.

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Written by chucklesamadeus

March 12, 2009 at 1:30 pm

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If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.

– George Soros (Financier, philanthropist, political activist, author and philosopher, b. 1930)

The market is played by two types of men, and good trades are won before the first bet. Some game for pleasure, betting like fools, others make money by knowing the rules. To survive is to thrive, adaptation is key, rule number 1 is don’t lose your money. Rule number 2 is rule number 1, but number 3 is contradiction. Take losses quickly and hold on to your gains, don’t let losers ruin your day.

Written by chucklesamadeus

March 11, 2009 at 10:54 am

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Under capitalism man exploits man: under socialism the reverse is true.

– Polish proverb

Needless to say, I do concur, this here quote is too good for words.

Written by chucklesamadeus

March 10, 2009 at 11:02 am

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Capitalism is the legitimate racket of the ruling class.

– Al Capone (American gangster, 1899-1947)

I’m no fan of gangsters and thugs, but with words like these, I gotta show love. I just wrote a post on the nature of the game, and how its rigged to drive dumb investors insane.

The market is Social Darwinism at its best, and the ones who get hurt are the fools who invest. Willing participants walking to the slaughter, unaware that they are nothing but fodder.

Bright and eager minds await the unsuspecting, luring them with riches that are more than just tempting. In the end it’s a game ruled by fear, “Invest!” they proclaim, but it’s best to steer clear.

Keeping up with the Joneses motivates some at first, and then the addiction is an unquenchable thirst. The ego takes over and emotions are stirred, but now you’re down over a third.

Reason says that such costs are sunk, but being a gambler keeps you in the funk. Learn to be objective and utilize your mind, avoid the noise that makes most men blind.

Written by chucklesamadeus

March 8, 2009 at 9:37 pm

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We go to the movies to be entertained, not see rape, ransacking, pillage and looting. We can get all that in the stock market.

– Kennedy Gammage (The Richland Report)

If you’re long equities, you’re getting raped in the face. I suggest heading to the movies for “Watchmen” and avoid thinking about your mismanaged life. Take a date and burn two Jackson’s getting tickets, an oily tub of popcorn and a monstrous carbonated beverage. You deserve it after having your ass handed to you this week. You may as well spend the money on bodily pleasure rather than inflicting more psychological pain.

Written by chucklesamadeus

March 5, 2009 at 10:56 pm

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“News on stocks is not important. How the stock reacts to it is important.”

– Michael L. Burke (Investors Intelligence)

Trading news is a good way to get eaten by the sharks that tip journalists. Although fundamental news is valuable, it lags the market by many months. It serves to explain market behavior in hindsight, not cause it. I only watch CNBC after hours, and rarely glance at the Bloomberg headlines intraday. The trading news I’m interested in is the scheduling of economic announcements in order to anticipate the volatility that surrounds the unpredictable.

Written by chucklesamadeus

March 5, 2009 at 12:52 am

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“The ‘canonical’ market bottom typically features below-average valuations, falling interest rates, new lows in some major indices on diminished trading volume… and finally, a quick high-volume reversal in breadth….”

-John P. Hussman, Ph.D. (Hussman Funds, 5/22/06)

This strikes me as good advice, though I haven’t lived through enough bear markets to validate its truth.  Given the recent market environment, a new low on diminishing volume is worth keeping an eye open for, though bets on such a condition are foolhardy.  From my point of view, it is best to wait for a reversal to begin, rather than anticipating it due to a gut feeling.

Written by chucklesamadeus

March 4, 2009 at 1:43 am

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