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Happens Quotes

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Happens Quotes

“In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it's important not to be emotionally attached to large profits. I've certainly made some of my worst trades after long periods of winning. When you're on a big winning streak, there's a temptation to think that you're doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general rule, losses make you strong and profits make you weak.”

“nothing happens in August - except when something really happens in August. World War I began in August, Saddam Hussein's invasion of Kuwait began in August, al Qaida was preparing to bring down the World Trade Center in August. August, in other words, is the time when all of us should prepare our backup plans, chart our reversals of course, [and] think through possible paradigm changes.”