There are only three ways a smart person can go broke: liquor, ladies and leverage.
- Charlie Munger - Topics: Leverage, Trader.
The pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.
- Jesse Livermore - Topics: Stock Market, Money Management, Investing, Trader, Wall Street.
Any fool can buy a company. You should be congratulated when you sell.
- Henry Kravis - Topics: Wall Street, Trader, Stock Market, Investing.
Successful trading is always an emotional battle for the speculator, not an intelligent battle.
- Jesse Livermore - Topics: Trader, Stock Market, Wall Street.
When you combine ignorance and leverage, you get some pretty interesting results.
- Warren Buffett - Topics: Leverage, Trader.
Remember, your goal is to trade well, not to trade often.
- Alexander Elder - Topics: Trader, Stock Market, Wall Street.
If everybody's waiting for a bounce to sell, either the market doesn't bounce or, if it does, you shouldn't sell into it.
- Bob Farrell - Topics: Wall Street, Trader.
When the market deviates from your analysis, you have to cut losses without fuss or emotions.
- Alexander Elder - Topics: Trader, Money Management, Wall Street.
I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.
- Paul Tudor Jones - Topics: Wall Street, Trader, Stock Market.
Using leverage is like playing Russian roulette. It means that you are inevitably going to get a bullet in the head.
- Ray Dalio - Topics: Leverage, Trader.
Find the trend whose premise is false, and bet against it.
- George Soros - Topics: Forecasting, Investing, Stock Market, Trader, Wall Street.
Leverage is a two-edged sword. The edge that can cut you, cuts deeper.
- Naved Abdali - Topics: Leverage, Trader.
People who exit the stock market to avoid a decline are odds-on favorites to miss the next rally.
- Peter Lynch - Topics: Wall Street, Trader, Stock Market, Investing.
I'm looking for a 5:1 risk reward ratio. Five to one means I’m risking one dollar to make five. What five to one does is allow you to have a hit ratio of 20%. I can actually be a complete imbecile. I can be wrong 80% of the time, and I’m still not going to lose.
- Paul Tudor Jones - Topics: Trader.
The goal of the good trader, paradoxically, is not to make money. His goal is to trade well.
- Alexander Elder - Topics: Trader.
I think I am safe in asserting that the margin trader, speculator, gambler, or whatever you choose to designate the average man who goes to Wall Street after easy money, does not lose money when he sells. He loses it when he buys.
- Jesse Livermore - Topics: Leverage, Trader.
It took me five years to learn to play the game intelligently enough to make big money when I was right.
There is only one side of the market and it is not the bull side or the bear side, but the right side.
- Jesse Livermore - Topics: Trader, Stock Market.
In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
- Peter Lynch - Topics: Stock Market, Investing, Forecasting, Trader.
It pays to write down your plan. You need to know exactly under what conditions you will enter and exit a trade. Do not make decisions on the spur of the moment, when you are vulnerable to being sucked into the crowd. Plans are created by reasoning individuals. Impulsive trades are made by sweaty group members.
- Alexander Elder - Topics: Trader, Stock Market.
The lesson of leverage is this: Assume that the worst imaginable outcome will occur and ask whether you can tolerate it. If the answer is no, then reduce your borrowing.
- Ed Thorp - Topics: Leverage, Trader.
It is essential to wait for trades with a good risk / reward ratio. Patience is a virtue for a trader.
- Alexander Elder - Topics: Wall Street, Trader, Money Management.
If you let the market make you feel high or low, you will lose money.
There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.
- Peter Lynch - Topics: Stock Market, Money Management, Investing, Trader, Wall Street.
The stock market will do whatever it has to do to embarrass the greatest number of people to the greatest extent possible.
- Walter Deemer - Topics: Trader, Stock Market, Wall Street.
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.
- William Feather - Topics: Wall Street, Trader, Stock Market, Investing.
While leverage is not directly responsible for every financial disaster, it usually can be found near the scene of the crime.
- Jim Mooney - Topics: Leverage, Trader.
When all the experts and forecasts agree, something else is going to happen.
- Bob Farrell - Topics: Wall Street, Trader, Stock Market, Investing, Forecasting.
Almost every financial blow-up is because of leverage.
- Seth Klarman - Topics: Leverage, Trader.
Leverage can never turn a bad investment into a good one, but it has the potential to turn a good investment into a bad one by forcing you to sell at just the wrong point in time.
- James Montier - Topics: Leverage, Money Management, Trader.
If a company gambles on leverage, it'll probably go bankrupt on leverage.
- Hendrith Vanlon Smith Jr. - Topics: Leverage, Trader.
Another lesson I learned early is that there is nothing new in Wall Street. There can't be because speculation is as old as the hills.
Succesful institutional traders often talk of quitting and going to trade for themselves. Only a handful of them manage to make the transition. Most traders who leave institutions get caught up in the emotions of fear, greed, elation, and panic when they start risking their own money.
It’s only when the tide goes out that you learn who has been swimming naked.
- Warren Buffett - Topics: Leverage, Trader, Wall Street.
Many traders ride an emotional roller coaster and miss the essential element of winning: the management of their emotions.
- Alexander Elder - Topics: Stock Market, Trader, Wall Street.
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 - Topics: Trader, Stock Market, Investing, Forecasting, Wall Street.
It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
- George Soros - Topics: Trader, Stock Market, Investing.
Leverage has the potential to turn a reasonably good investment into disastrous gambling.
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.
- John Templeton - Topics: Trader, Wall Street, Stock Market, Investing.
I believe that anyone who is intelligent, conscientious, and willing to put in the necessary time can be successful on Wall Street. As long as they realize the market is a business like any other business, they have a good chance to prosper.
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
- George Soros - Topics: Investing, Money Management, Stock Market, Trader, Wall Street, Wealth.
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