Emotionally unstable, Mr. market veers from years of euphoria when he can see only the favorable possibilities of industries,companies, and their stocks to profound pessimism when he’s so depressed he can see nothing but trouble ahead. Mr. market persistently teases investors with gimmicks such as surprising earning, starting dividend announcements, sudden surges of inflation, inspiring […]
Trading Rules by Jesse Livermore was famously profiled in the classic investing tome Reminiscences of a Stock Operator, a book that has been called the best trading book every written. Introduction to Jesse Livermore Jesse Livermore was born in Massachusetts, in 1877. By the age of fifteen he went to work in Paine Webber’s Boston brokerage office where […]
The Group Fallacy in the Theory of Revolution.— I wish now to call your attention to a theory which represents more nearly than the one just discussed a type of the group fallacy common in sociological writing. This is the formula for revolutions developed by Professor Ellwood.[7] At the outset, however, let me state that […]
“Those who have knowledge, don’t predict. Those who predict, don’t have knowledge” ― Lao Tzu Don’t Predict In fact perhaps the biggest problem with Irrationality is that it covers such a vast range of behavioral issues that it’s pretty much impossible to digest the whole thing. It’s not a book to be read in a single sitting. To […]
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.If the company loses more than it has accumulated, retained earnings is negative.If a company isn’t adding to its retained earnings, it isn’t growing its net worth.Rate of growth […]
Q: Since Ben Graham isn’t around anymore, what money managers do you respect today? Is there a Ben Graham today? Wealth would create more Wealth You don’t need another Ben Graham. You don’t need another Moses. There were only Ten Commandments; we’re still waiting for the eleventh (j/k). His investing philosophy is still alive and […]
