Memoirs of a Stock Maker Business Thinking When Speculating

Mondo Finance Updated on 2024-01-29

The "Autobiography" of Jesse Livermore.

Warren Buffett commented on this book: "No matter how much you read investment books, you may not be able to laugh proud**, but if you haven't even read this book, making profits is basically equivalent to talking nonsense." ”

Some very "philosophical" words in the book:

In the game, experience leads to stable profits, and observation provides the most reliable insider. ”

Knowing what not to do is more important than knowing what to do. ”

No matter how capable or old a person is, he is not immune to anticipating mistakes. No matter how carefully the plan is made, the operation will be out of shape, because unexpected things will happen, or even unforeseen things at all. ”

It takes a long time for a person to learn all the lessons needed from their mistakes. ”

Eat a trench, grow a wisdom. When you have nothing, you have an epiphany and know what not to do. When you know that there are things you shouldn't do or you will lose, you can start to know what to do in order to win. ”

Knowledge (cases and facts that you collect that can be written down on cards and encoded for archiving) can be transmitted, but you cannot disseminate experiences. A person can have the knowledge and know what to do, but still lose money because he doesn't have enough experience, so he will be slow to start. ”

The success of many things depends first on whether you are acting at the right time. ”

When people make mistakes, the only thing to do is not to make mistakes again. ”

No place on Wall Street or anywhere is a broad road to success. ”

By the way, note the recent operational changes:

1. Since watching "The Wisdom of **", I have stopped trading so frequently, but today I have some stupid operations

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