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Aaron Brown
More books by Aaron Brown…
“What I listen for is someone who really wanted something that could be obtained only through taking the risk, whether that risk was big or small.
It's not even important that she managed the risk skillfully; it's only important that she knew it was there, respected it, but took it anyway.
Most people wander through life, carelessly taking whatever risk crosses their path without compensation, but never consciously accepting extra risk to pick up the money and other good things lying all around them.
Other people reflexively avoid every risk or grab every loose dollar without caution.
I don't mean to belittle these strategies; I'm sure they make sense to the people who pursue them. I just don't understand them myself.
I do know that none of these people will be successful traders.”
― The Poker Face of Wall Street
It's not even important that she managed the risk skillfully; it's only important that she knew it was there, respected it, but took it anyway.
Most people wander through life, carelessly taking whatever risk crosses their path without compensation, but never consciously accepting extra risk to pick up the money and other good things lying all around them.
Other people reflexively avoid every risk or grab every loose dollar without caution.
I don't mean to belittle these strategies; I'm sure they make sense to the people who pursue them. I just don't understand them myself.
I do know that none of these people will be successful traders.”
― The Poker Face of Wall Street
“A major risk in the financial markets is that the random distribution of macro forces to individual transactions will align by chance in a way that disrupts the markets, which in turn disrupts the economy, which in turn delivers additional shocks to the market.”
― Financial Risk Management For Dummies
― Financial Risk Management For Dummies
“Risk creates winners and losers, and a dynamic economy needs both.
Everyone is born with a lot of options in life, and volatility increases the value of options. The concentrated capital of winners is a force for change, and losses have freed many a loser to exploit the value of options a comfortable person would ignore.”
― The Poker Face of Wall Street
Everyone is born with a lot of options in life, and volatility increases the value of options. The concentrated capital of winners is a force for change, and losses have freed many a loser to exploit the value of options a comfortable person would ignore.”
― The Poker Face of Wall Street
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