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Running Quotes

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Running Quotes

“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.”

“The drama is not a mere copy of nature, not a facsimile. It is the free running hand of genius, under the impression of its liveliest wit or most passionate impulses, a thousand times adorning or feeling all as it goes; and you must read it, as the healthy instinct of audiences almost always does, if the critics will let them alone, with a grain of allowance, and a tendency to go away with as much of it for use as is necessary, and the rest for the luxury of laughter, pity, or poetical admiration.”