“The people who survive avoid snowball scenarios in which bad trades cause them to become emotionally destabilized and make more bad trades. They are also able to feel the pain of losing. If you don't feel the pain of a loss, then you're in the same position as those unfortunate people who have no pain sensors. If they leave their hand on a hot stove, it will burn off. There is no way to survive in the world without pain. Similarly, in the markets, if the losses don't hurt, your financial survival is tenuous.” PeopleIfsWorldWayFeelsHandsAblePainCausesHurtLossPositionSurvivalLosingHotTradeFinancialUnfortunateScenariosNo PainStovesWithout PainSnowballSensors Author:William Eckhardt
“The Government should take a firm, bold line. This delay - this uncertainty, by which, abroad, we are losing our prestige and our position, while Russia is advancing and will be before Constantinople in no time! Then the Government will be fearfully blamed and the Queen so humiliated that she thinks she would abdicate at once.” ThinkingShouldGovernmentLinesRiskPositionLosingRussiaUncertaintyFirmQueensDelayRoyaltyAdvancingPrestigeHumiliatedConstantinople Author:Queen Victoria
“Suppose it were perfectly certain that the life and fortune of each of us would some day depend upon our winning or losing a game of chess. Do you not think that we should all consider it to be our primary duty to learn at least the names of the pieces and how to position them on the chessboard?” ThinkingShouldCertainGamesWinningNamesPiecesPositionDutyDependsLosingFortuneChessPrimariesWin Or LoseLosing A Game Author:Aldous Huxley