What I Learned Losing A Million Dollars
If anyone knows about having a lot on the line, it’s Jordan Walters of the Silicon Valley branch of the investment house Smith Barney. Jordan is exactly the kind of person you’d look for in a financial planner: he’s calm, he’s thoughtful, and he always takes the time to listen. As we sat down in his office and sipped from the minibar-sized can of a
... See moreRom Brafman • Sway: The Irresistible Pull of Irrational Behavior
Most financial advice is about today. What should you do right now, and what stocks look like good buys today? But most of the time today is not that important. Over the course of your lifetime as an investor the decisions that you make today or tomorrow or next week will not matter nearly as much as what you do during the small number of days—like... See more
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
fear. In speculation when the market goes against you you hope that every day will be the last day—and you lose more than you should had you not listened to hope—to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away
... See moreEdwin Lefevre • Reminiscences of a Stock Operator
A good rule of thumb is that any investment choice that feels good is a bad one, and anything that seems scary or boring is often a good one.