You'd be surprised to know how much stock comes from strong boxes all over the country when the price breaks and stays broke..
Financial loss has many parents: inadequate quantitative ability, overconfidence, underestimation of risk tolerance, ignorance about the knowledge and competence of those on the other sie of your trades, and the granddaddy of all, unawareness of financial history.
".... the one great trouble with people in this country is not that they wish to get rich, but that they wish to get rich quickly... when the mob hangs around a ticker .. it pays the intelligent capitalists' price; and after paying, the mob shouts: 'Thieves!' "
The mob was personified by Gilmartin, a down-at-the-heels journalist who pestered Rock incessantly for hot tips. Rock, true to form, toyed with Gilmartin, and through him, "the mob" who read his breathless reportage. Just as most people believe that they are better liked, better looking, and better drivers than they actually are, most investors believe that they are better than average. While Rock's opponents certainly suffered from this delusion, Rock did not, realizing that even the best laid and most perfectly executed of plans could still come to grief against the cruel mistress of the markets.
Financial loss has many parents: inadequate quantitative ability, overconfidence, underestimation of risk tolerance, ignorance about the knowledge and competence of those on the other sie of your trades, and the granddaddy of all, unawareness of financial history.
".... the one great trouble with people in this country is not that they wish to get rich, but that they wish to get rich quickly... when the mob hangs around a ticker .. it pays the intelligent capitalists' price; and after paying, the mob shouts: 'Thieves!' "
The mob was personified by Gilmartin, a down-at-the-heels journalist who pestered Rock incessantly for hot tips. Rock, true to form, toyed with Gilmartin, and through him, "the mob" who read his breathless reportage. Just as most people believe that they are better liked, better looking, and better drivers than they actually are, most investors believe that they are better than average. While Rock's opponents certainly suffered from this delusion, Rock did not, realizing that even the best laid and most perfectly executed of plans could still come to grief against the cruel mistress of the markets.
