The French saying: “plus ça change, plus c’est la même chose” “The more it changes the more it’s the same thing.” I have always thought this motto applied to the stock market better than anywhere else. Now the really important part of this proverb is the phrase “the more it changes.” The economic world has changed radically and it will change even more. Most people think now that the essential nature of the stock market has been undergoing a corresponding change. But if my cliché is sound – and a cliché’s only excuse, I suppose, is that it is sound – then the stock market will continue to be essentially what it always was in the past – a place where a big bull market is inevitably followed by a big bear market. In other words, a place where today’s free lunches are paid for doubly tomorrow. In the light of experience, I think the present level of the stock market is an extremely dangerous one.
Especially when you are young, it’s rather about compounding knowledge than money. The kind of money you make when you are very young makes it hard for students to succeed in stock investing. But, perhaps, at such a young age, it’s more important for you to create a foundation by compounding knowledge generate meaningful cash […]
“Extraordinary claims require extraordinary evidence.” “It seemed so heady and promising, such an interesting future. But as I learned a little bit more about the properly skeptical attitudes of science and how often we deceive ourselves, I began to look at this with much more skepticism.” “And people were in their heart of hearts worried […]
Talent is a flame. Genius is a fire. Bernard Williams Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone […]