What do you think?
Rate this book
Speculation as a Fine Art and Thoughts on Life
The guidebook for successful speculators as written by a successful speculator. Also contains Watts classic "Thoughts on Life" - short aphorisms of timeless wisdom. The orignal source for classic market wisdom such as: "Make your theories fit your facts, not your facts your theories." "Look after the principal; the interest will look after itself." "If a speculation keeps you awake at night, sell down to the sleeping point" This book is a must for any reader of classic investing wisdom.
49 pages, Kindle Edition
First published June 1, 1965
17 people are currently reading
171 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 12 of 12 reviews
July 13, 2022
This small but wonderful book is full of maxims and aphorisms to ruminate on for a long time.
November 14, 2018
Short and yo the Point! This is the equivalente of the Art of War for Speculation. Written at the beginning of 20th century but so many timeless truths.
February 23, 2023
An old book exploring principles for speculation and maxims on life.
Memorable quotes:
Don't stand shivering on the brink; take the plunge.
At thirty, most men are in a condition of arrested development. A few grow until their bodies fall into the grave.
Some people lie and never deceive; other speak truth and always deceive.
Administer correction with a joke, and it will go down like a sugar-coated pill.
In the presence of some people we wither like sensitive plants; in the presence of others, we expand like flowers.
The unpardonable sin, - not to make money.
Stagnation is damnation. Circulation is salvation.
If you wait until you see clearly, you will never act; if you wait for a pure motive, you will never move.
Never explain. Let your life be the explanation.
Patience is sustained courage.
Shyness is vanity turned inward.
In life, as in a game of cards, you must sit out bad luck.
To advise is to claim superiority and is resented, unless the superiority is admitted.
When in adversity, don't speak of it; you will make others unhappy. When in prosperity, don't speak of it; you will also make others unhappy.
To know when to begin is easy; when to stop, difficult.
Imagination is as great a power in business as it is in art, in literature, or in religion.
The more "hindsight" the better foresight.
It is always the "unlucky man" who believes in luck.
Take care of the losses; the profits will take care of themselves.
When you begin to doubt, begin to "get out."
The man who talks of his grand acquaintances is never a grand man.
Strong men are silent. When a strong man begins to talk, he is losing his power.
The mistake o f an able man is that he thinks others are as able as he.
To know when to speak is rare; when to be silent, rarer still.
Memorable quotes:
Don't stand shivering on the brink; take the plunge.
At thirty, most men are in a condition of arrested development. A few grow until their bodies fall into the grave.
Some people lie and never deceive; other speak truth and always deceive.
Administer correction with a joke, and it will go down like a sugar-coated pill.
In the presence of some people we wither like sensitive plants; in the presence of others, we expand like flowers.
The unpardonable sin, - not to make money.
Stagnation is damnation. Circulation is salvation.
If you wait until you see clearly, you will never act; if you wait for a pure motive, you will never move.
Never explain. Let your life be the explanation.
Patience is sustained courage.
Shyness is vanity turned inward.
In life, as in a game of cards, you must sit out bad luck.
To advise is to claim superiority and is resented, unless the superiority is admitted.
When in adversity, don't speak of it; you will make others unhappy. When in prosperity, don't speak of it; you will also make others unhappy.
To know when to begin is easy; when to stop, difficult.
Imagination is as great a power in business as it is in art, in literature, or in religion.
The more "hindsight" the better foresight.
It is always the "unlucky man" who believes in luck.
Take care of the losses; the profits will take care of themselves.
When you begin to doubt, begin to "get out."
The man who talks of his grand acquaintances is never a grand man.
Strong men are silent. When a strong man begins to talk, he is losing his power.
The mistake o f an able man is that he thinks others are as able as he.
To know when to speak is rare; when to be silent, rarer still.
April 6, 2025
Two pamphlet-length works here: the first, Speculation as a Fine Art, is a foundational old-school text for investors, cited repeatedly in Reminiscences of a Stock Operator.
The second, Thoughts on Life, contains short chapters of quotes and sayings in the style of Baltasar Gracian or Ep... [see the rest on my book review site.]
The second, Thoughts on Life, contains short chapters of quotes and sayings in the style of Baltasar Gracian or Ep... [see the rest on my book review site.]
August 25, 2019
This book was not at all what I was expecting. It is much more than a trading book, its a book of life lessons and advice. Surprised, but in a good way!
If you are looking for a trading system to make you millions this is not your book. If you are looking for a classic book with agelss advice, give it a read.
If you are looking for a trading system to make you millions this is not your book. If you are looking for a classic book with agelss advice, give it a read.
December 7, 2024
Gratísima sorpresa.
Muestra cómo la vida cotidiana y los mercados
se comportan a menudo con grandes similitudes
y siguen con frecuencia las mismas reglas.
Dickson G. Watts es el Publio Siro de las finanzas,
aun cuando sus aforismos no se circunscriban únicamente a ese mundillo.
Muestra cómo la vida cotidiana y los mercados
se comportan a menudo con grandes similitudes
y siguen con frecuencia las mismas reglas.
Dickson G. Watts es el Publio Siro de las finanzas,
aun cuando sus aforismos no se circunscriban únicamente a ese mundillo.
June 1, 2021
First part is interesting
August 27, 2021
This handbook is a great encyclopaedia for the quodophiles out there. Personally I had picked up more than a dozen very succinct and wise quotes and will be referred back to periodically.
January 4, 2021
Just wonderful. Full of Wisdoms. Should read everyday.
July 25, 2009
Don't be fooled by the gaudy cover -- this tiny book (44 pages) is a little classic of the genre. To be a successful trader requires self-knowledge above all. The world is what it is; trends trend as they trend. The same is given to all. What differentiates one trader from another is that the successful trader, like Machiavelli's Prince, knows how to read reality as it is given. Being bold when boldness is required, timid when timidity is best.... Thus, the best books on trading often end up being books on self-analysis.
One of the best books on trading I have ever read is this one: http://www.goodreads.com/book/show/25...)
which, despite it's title, deals almost entirely with epistemological issues.
Strange, but true...
One of the best books on trading I have ever read is this one: http://www.goodreads.com/book/show/25...)
which, despite it's title, deals almost entirely with epistemological issues.
Strange, but true...
December 14, 2014
Excellent quotes. Simply superb
December 22, 2019
Many aphorisms sound great, but what can I do with them?
Displaying 1 - 12 of 12 reviews