Almost every financial blow-up is because of leverage.
Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.
Success is a lousy teacher. It seduces smart people into thinking they can’t lose.
Remember, your goal is to trade well, not to trade often.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
Some lessons have to be experienced before they can be understood
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Owning stocks is like having children. Don't get involved with more than you can handle.
As history has repeatedly proven, one trade tariff begets another, then another - until you've got a full-blown trade war. No one ever wins, and consumers always get screwed.
Hope is not a strategy.
Derivatives are financial weapons of mass destruction.
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
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