Monday, November 7, 2011

Climateer Quote of the Day: Challenge of Speculation Edition

The game of speculation is the most uniformly fascinating game in the world. 

But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, or for the get rich quick adventurer. They will die poor.

Over a long period of years I have rarely attended a dinner party including strangers that someone did not sit down beside me and after the usual pleasantries inquire: "How can I make some money in the market?" In my younger days I would go to considerable pains to explain all the difficulties faced by the one who simply wishes to take quick and easy money out of the market; or through courteous evasiveness I would work my way out of the snare. 

In later years my answer has been a blunt "I don't know." 
-Jesse Livermore
"How to Trade in Stocks"

Making Money the Jesse Livermore Way 
Jesse Livermore: Lessons From A Legendary Trader 
Repost--"CLASSIC!: 'Bear Raid' Stock Manipulation: How and When It Works, and Who Benefits" (Jesse Livermore makes an appearance)