RSS
Home
Another Wall Street scandal. Another lesson about stock trading.
Print
Email
RSS
Subscribe
You can't trade stocks and consistently make money. It can't be done. You can't trust people who say they can--people like Ivan Boesky, Bernard Maddoff and now Raj Rajaratnam, the head of Galleon Group. Each one broke the law to create the appearance that they were financial geniuses. Quite frankly that phrase is an oxymoron.
To help me prove my point, here are some words of wisdom from people you can respect:
"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas."--Paul Samuelson, Nobel Award in Economics 1970
"To bet the market you'll have to invest serious bucks to dig up information no one else has yet."--Merton Miller, Nobel Award in Economics 1990
"If you're not willing to hold a stock for 10 years, do not even think about owning it for 10 minutes."--Warren Buffet
"He who lives by the crystal ball soon learns to eat ground glass." --Edgar R. Fielder, American economist
"Don't try to buy at the bottom and sell at the top. It can't be done except by liars."--Bernard Baruch
"I have probably purchased fifty "hot tips" in my career, maybe even more. When I put them all together, I know I am a net loser."--Charles Schwab
Related Articles:
Add a Comment
