“My position as regards the monied interests can be put in a few words. In every civilized society property rights must be carefully safeguarded; ordinarily and in the great majority of cases, human rights and property rights are fundamentally and in the long run, identical; but when it clearly appears that there is a real conflict between them, human rights must have the upper hand; for property belongs to man and not man to property.” MenHumansLongRealHandsRunningPoliticsInterestCasesRightsPositionConflictRegardMajorityPropertyHuman RightsCivilizedLong RunsIdenticalProperty RightsFew WordsCivilized SocietyUpper Hand Author:Theodore Roosevelt
“If a betting game among a certain number of participants I played long enough, eventually one player will have all the money. If there is any skill involved, it will accelerate the process of concentrating all the stakes in a few hands. Something like this happens in the market. There is a persistent overall tendency for equity to flow from the many to the few. In the long run, the majority loses. The implication for the trader is that to win you have to act like the minority. If you bring normal human habits and tendencies to trading, you'll gravitate toward the majority and inevitably lose.” IfsHumansLongEnoughHandsHappensRunningCertainGamesWinningProcessLosesNumbersPlayerHabitInvolvedSkillsNormalFlowMajorityTendenciesMinoritiesStakesLong RunsTradingEquityPersistentImplicationsParticipantsConcentratingTradersAccelerateBetting Author:William Eckhardt