Read? How to become rich in stocks??? (15)
Learn to become like Warren Buffet???
No. We can't!
But, we can become like Mini, Micro or Nano Warren Buffet.
Why not?
One way to fully understand Warren Buffet's Rules.
Rule No.1: Never lose money. Rule No.2: Never forget rule No.1 - Warren Buffet
"Buffett also uses his own unique definition of risk. To Buffett, the risk of holding any stock is only the permanent loss of capital. Apparently risking the temporary loss of even very large amounts of capital is of little or no concern to him. But for the rest of us who will eventually need the return of the capital we invest, even the temporary loss of a portion of it might create a serious financial hardship." Chuck LeBeau
Read more? You Are Not Warren Buffett
Read? Getting good returns without too much risk???
Follow another wise man's rule
This is what my Sifu, Jessie Livermore said:
In the famous book entitled Reminiscences of a Stock Operator, Jessie Livermore said: “After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!
It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit.
And their experience invariably matched mine -- that is, they made no real money out of it.
I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”
Men who can both be right and sit tight are uncommon.
"Buffett also uses his own unique definition of risk. To Buffett, the risk of holding any stock is only the permanent loss of capital. Apparently risking the temporary loss of even very large amounts of capital is of little or no concern to him. But for the rest of us who will eventually need the return of the capital we invest, even the temporary loss of a portion of it might create a serious financial hardship." Chuck LeBeau
Read more? You Are Not Warren Buffett
Read? Getting good returns without too much risk???
Follow another wise man's rule
This is what my Sifu, Jessie Livermore said:
In the famous book entitled Reminiscences of a Stock Operator, Jessie Livermore said: “After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!
It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit.
And their experience invariably matched mine -- that is, they made no real money out of it.
I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”
Men who can both be right and sit tight are uncommon.
May be it is easier to learn form late Uncle Chua from Singapore. Something closer to home!
Definitely, we can become like Mini, Micro, or Nano Uncle Chua!
Read? Value Investing Made Simple by Uncle Chua (2)
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