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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Thursday, 13 January 2011

Spot the Sucker – It Might Be You!

Just for Laugh ....

From Warren Buffett:

If you’ve been in the [poker] game 30 minutes and you don’t know who the patsy is, you’re the patsy.”

From Jessie Livermore:

Four Grades of Sucker
  1. The Beginning Sucker: has read little and knows little.
  2. The Semi-Sucker: has read books about trading – usually written by higher-grade suckers. He can recite wise stock market sayings. He does not realize that reading books is not the same as trading experience. He loses money more slowly than the beginning sucker because he has learned some basic trading rules.
  3. The Wall Street Fool: knows enough to make a profit if he sticks faithfully to his trading rules. The excitement of the market overpowers the fool; he trades more often than he should and loses his advantage over the market.
  4. The Higher Grade Sucker: makes his money from selling trading books because he can’t make money in the markets.
So, you don't believe you are a sucker?

The best way to know whether you are a sucker or not is to spend at least 15 years in the stock market.

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