Speculation is a hard and trying business, and a speculator must be on the job all the time, or he'll soon have no job to be on.
( Jesse Livermore )
Stocks are bought on expectations, not facts.
( Gerald M. Loeb )
Speculation is dealing with the uncertain conditions of the unknown future. Every human action is a speculation in that it is embedded in the flux of time.
( Ludwig von Mises )
Wall Street sells stocks and bonds, but what it really peddles is hope.
( Jason Zweig )
Only when the tide goes out do you discover who’s been swimming naked.
( Warren Buffett )
No matter what kind of math you use, you wind up measuring volatility with your gut.
( Ed Seykota )
Large price changes tend to be followed by more large changes, positive or negative. Small changes tend to be followed by more small changes. Volatility clusters.
( Benoit B. Mandlebrot )