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Brilliant Quotes from Warren Buffett - What a great refresher for all investors!
According to Warren Buffett, this is the most important thing "Rule No 1: never lose money; rule No 2: don't forget rule No 1" Source: The Tao of Warren Buffett
Nelson Fiedler of EZ Color Trading said, "What a coincidence!
Be greedy when others are fearful
"Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."
Source: Letter to shareholders, 2004
Beth has an EXPECTATION VERSUS REALITY section in her book. She also covered how to learn to trade without incurring big expenses.
Choose sleep over extra profit
"I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits."
Source: Letter to shareholders, 2008
Beth starved and stressed herself for three years. She often slept less than 5 hours/night. She was haunted by indicators and trading systems in her dreams. Did she get some peaceful sleep? You will find out more from her book My Roller Coaster Ride.
Don't swing at everything
"The stock market is a so-called-strike game. You don't have to swing at everything - you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, 'Swing, you bum!'"
Source: The Tao of Warren Buffett via Engineeringnews.com
After reading Beth's book My Roller Coaster Ride, you can tell she was extremely aggressive and scattered everywhere. Until she realized the trading secrets she shared in her book, she was the one yelling and playing at the same time.
If Newton had a "Fourth" Law of Motion ...
"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac's talents didn't extend to investing: He lost a bundle in the South Sea Bubble, explaining later, "I can calculate the movement of the stars, but not the madness of men." If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases."
Source: Letter to shareholders, 2005
Beth believes she has made all the trading mistakes that anyone or everyone can make during her 3-year self-learning journey. She shared them in her book. Less is definitely more!
Beware when investing turns into speculating
"The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money. After a heady experience of that kind, normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities - that is, continuing to speculate in companies that have gigantic valuations relative to the cash they are likely to generate in the future - will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party. Therefore, the giddy participants all plan to leave just seconds before midnight. There’s a problem, though: They are dancing in a room in which the clocks have no hands."
Source: Letter to shareholders, 2000
Beth can laugh at her stupidity now. There were weeks she did not dare leaving her trade station for minutes .. worried about missing a good signal. She was an evening owl glued to her four trading monitors 24/7. What a relief when she realized the importance of K.I.S.S. and learned how to identify her favorite set-up. Again, she shared her insight and recommendation in her book.
Nelson added, "It's our mission to share our belief in capital protection and trading discipline. Readers are welcome to download our mobile App and enjoy free viewing of our e-Learning program Are You Ready To Start Investing."
Disclaimer: All trading involves high risk; past performance is not necessarily indicative of future results. No implication is being made that anyone utilizing the system has or can obtain such profits and results. This information is merely a presentation of trade strategies.
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EZ Color Trading