Investing is the most difficult of sports: nowhere else does one begin a career by opposing the world’s most accomplished professionals.
Respect is the first casualty in lost love.
Four industries dominate the economy: hope, escape, protection, and convenience.
Success is the point at which talent and skill meet opportunity.
The aim of all trading education: to encourage trading.
The printing press democratized the acquisition of knowledge; the computer has democratized its dissemination.
Date markets before deciding to marry them.
Anatomy of a bad trade: Hope, then despair.
Love, once present, never dies. It must be killed.
Many a trader fears boredom more than loss, thereby experiencing the two in sequence.
Work without talent is drudgery; talent without work is self-betrayal.
Good traders master a market; great traders master markets.
Goodness of character is measured in loyalty to others; greatness of character is measured in loyalty to principle.
One encounters losing traders as often as one encounters losing golfers--and for much the same reason.
Show me what a man loathes, and I will show you what he cannot accept in himself.
Trading is the only sport in which the rules governing the players change constantly—and without notice.
The essential message of Web 2.0: Knowledge resides in minds, not just mind.
Two traders: one increases size after a loss; the other gets smaller. Both continue to lose.
The absence of self-acceptance too often masquerades as the quest for self-improvement.
Fidelity to purpose: the mark of good investments and great investors.
Talent is the better part of trading psychology.
The foolhardy trade is the courageous trade held a few minutes longer.
In all fields, performance belongs not just to the talented, but to the prepared.
Self esteem is treating ourselves with justice, not kindness.
Addiction: when the desire to trade exceeds the desire to make money.