Diversification is protection against ignorance. It makes little sense if you know what you are doing.
( Warren Buffett )
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 )
Sometimes buying early on the way down looks like being wrong, but it isn’t.
( Randy Thurman )
The investor’s chief problem — and even his worst enemy — is likely to be himself.
( Benjamin Graham )
No matter what kind of math you use, you wind up measuring volatility with your gut.
( Ed Seykota )
Formal education will make you a living; self-education will make you a fortune.
( Jim Rohn )
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 )