segunda-feira, 15 de março de 2010

Palavras de um Especulador

Apesar das diversas frases interessantes citadas no livro How to Trade in Stocks - Jesse Livermore, mencionado no post anterior, decidi selecionar apenas algumas e colocá-las para conhecimento de alguns e reflexão para outros:

"I have never undestood why people think making money in the market is easy. We all have our own businesses. I would never ask my good friend Ed Kelley, the head of United Fruit Company, to tell me the secrets of the fruit business, or Walter Chrysler about the automotive business. So, I could never undestand when people asked me: How can I make some fast money in the stock market?"

"Play the market only when all factors are in your favor. No person can play the market all the time and win. There are times when you should be completely out of the market."

"Time is not money because there may be times when your money should be inactive - Time is Time - and - Money is Money - often money that is just sitting can later be moved into the right situation and make a fortune - PATIENCE-PATIENCE-PATIENCE was the key to success - don't be in a hurry."

"Nothing ever changes in the market - the only thing that changes are the players, and the new players have no financial memory of the previous major cycles, like the crash of 1907, or the crash of 1929, because they have not experienced them. It may be new to the speculator - but it's not new to the market."

"Beware of ignorance - The maket must be studied and learned, not in a casual way, but in a deep knowledgeable way. The stock market, with its allure of easy money and fast action, induces people into the foolish mis-handling of their money like no other entity. The reverse of ignorance is knowledge, and knowledge is power."

"Speculation is a business, and like any other business it takes hard work and diligence to succeed."

"There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly built into human nature, that always gets in the way of human intelligence. Of this I am sure."

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