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In the short run, the market is a voting machine. In the long run, it is a weighing machine.

( Benjamin Graham )

There are old traders and there are bold traders, but there are very few old, bold traders.

( Ed Seykota )

When you invest, you are buying a day that you don’t have to work.

( Aya Laraya )

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 )

Successful investing is anticipating the anticipations of others.

( John Maynard Keynes )

If it’s obvious, it’s obviously wrong.

( Joe Granville )