The stock market is filled with individuals who know the price of everything, but the value of nothing.
( Philip Fisher )
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 )
I can calculate the motions of the heavenly bodies, but not the madness of people.
( Isaac Newton )
No matter what kind of math you use, you wind up measuring volatility with your gut.
( Ed Seykota )
The first rule of investment is: Don’t Lose. And the second rule of investment is: Don’t forget the first rule.
( Warren Buffett )
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 )
Liquidity is only there when you don’t need it.
( Old Proverb )