Quote of the Day - Standing on the Shoulders of Giants
“I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature.”
“One of the hardest things in this world is to admit you are wrong. And nothing is more helpful in resolving a situation than its admission.”
“It takes time to succeed because success is merely the natural reward of taking time to do anything well.”
“Only those who have the patience to do the simple things perfectly will acquire the skill to difficult things easily.”
“I never benefited much from a move if I did not get in at somewhere near the beginning of the move. And the reason is that I missed the backlog of profit which is very necessary to provide the courage and patience to sit thourgh a move until the end comes - and to stay through any minor reactions or rallies which were bound to occur from time to time before the movement had completed its course.”
“What lies behind us and what lies before us are tiny matters compared to what lies within us.”
“Believe in yourself and there will come a day when others will have no choice but to believe with you.”
“I’d say that my investment philosophy is that I don’t take a lot of risk, I look for opportunities with tremendously skewed reward-risk opportunities. Don’t ever let them get into your pocket - that means there’s no reason to leverage substantially. There’s no reason to take substantial amounts of financial risk ever, because you should always be able to find something where you can skew the reward risk relationship so greatly in your favor that you can take a variety of small investments with great reward risk opportunities that should give you minimum draw down pain and maximum upside opportunities.”