Donald

“Logic makes as poor an argument against a boom as it does against a love affair.”
― James Grant, Bagehot: The Life and Times of the Greatest Victorian

“By the fall of 1929, Livermore built up his biggest short position ever, $450 million spread across 100 stocks. And he was about to receive the biggest payday of his entire life. From October 25 through November 13, the Dow crashed 32%. In those 11 days, the Dow fell 5% seven times. Livermore covered all of his shorts and was worth $100 million, equivalent to $1.4 billion in today's dollars. He was one of the richest people in the world. This would be the height of his powers.”
― Michael Batnick, Big Mistakes: The Best Investors and Their Worst Investments

“Everyone is in such a good mood when they've eaten well.”
― E.A. Bucchianeri, Vocation of a Gadfly

“When the game is no longer being played your way, it is only human to say the new approach is all wrong, bound to lead to trouble, etc. I have been scornful of such behavior by others in the past. I have also seen the penalties incurred by those who evaluate conditions as they were – not as they are. Essentially I am out of step with present conditions. On one point, however, I am clear. I will not abandon a previous approach whose logic I understand even though it may mean foregoing large, and apparently easy, profits to embrace an approach which I don't fully understand, have not practiced successfully and which, possibly, could lead to a substantial permanent loss of capital.6”
― Michael Batnick, Big Mistakes: The Best Investors and Their Worst Investments