“The New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it over estimates the length of the short run. In doing so, it overreacts to records of success and failure for individual companies, driving the prices of successful firms too high and their unsuccessful counterparts too low.” RunningIndividualForceMistakeCompanyEconomySuccessfulRecordsFailingMajorsLowsAppreciateFocusedDrivingFinanceFirmLengthSuccess And FailureSystematicUnsuccessfulCounterpartsMarket Economy Author:Robert Haugen
“Successful trading depends on the 3M`s - Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger - deciding when to buy and sell. Money refers to how you manage your trading capital.” NeedsMindWellsFeelingsThreeSpaceSuccessfulPsychologyFocusDependsMassMethodSellsManageFirmAnalysisPullingTradingTriggersBeginnersTradersStock OptionsPulling The Trigger Author:Alexander Elder
“Unfortunately, skill in evaluating the business prospects of a firm is not sufficient for successful stock trading, where the key question is whether the information about the firm is already incorporated in the price of the stock. Traders apparently lackthe skill to answer this crucial question, but they appear to be ignorant of their ignorance.” AnswersSuccessfulInformationIgnoranceKeysSkillsInvestingIgnorantFirmSufficientCrucialTradingProspectsTraders Book:Thinking, Fast and Slow Source: Thinking, Fast and Slow
“Knowing the importance of luck, you should be particularly suspicious when highly consistent patterns emerge from the comparison of successful and less successful firms. In the presence of randomness, regular patterns can only be mirages.” ShouldKnowingSuccessfulImportanceLuckInvestingPatternsFirmConsistentComparisonSuspiciousRandomnessMirages Book:Thinking, Fast and Slow Source: Thinking, Fast and Slow
“After I began to make some money, my brain-damaged accountant put me in one business after another that went bad. The only one that panned out was a small bank, an old Scottish firm with London offices in Pall Mall. I was a director. We sold out to a larger bank. That was the only successful venture I've had, apart from acting.” ActingBrainSuccessfulDirectorsOfficeLondonFirmVentureScottishMallsAccountantsSold Out Author:Sean Connery
“Laughter is a unique medicine that places your problems in perspective, relaxes your tense muscles, reassures those around you, and helps you to enjoy life even when you don't have everything you want. A successful man is one who can lay a firm foundation with the bricks others have thrown at him.” MenWantHelpingProblemEnjoySuccessfulPerspectiveUniqueLaughterFoundationLaysMedicineFirmMusclesRelaxThrownEnjoy LifeBricksTenseSuccessful ManFirm Foundation Author:David Brinkley
“Would the honest patriot, in the full tide of successful experiment, abandon a government which has so far kept us free and firm on the theoretic and visionary fear that this Government, the world's best hope, may by possibility want energy to preserve itself? I trust not.” WorldWantMayGovernmentEnergySuccessfulHonestPossibilityExperimentsPreservesFirmAbandonTidesPatriotVisionariesHoping For The BestJuly 4th 1776 Author:Thomas Jefferson