Sublime
An inspiration engine for ideas
Michael Batnick says, “some lessons have to be experienced before they can be understood.”
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
I will tell you the secret of getting rich on Wall Street. [Pause.] Close the doors. You try to be greedy when others are fearful and you try to be very fearful when others are greedy.§
Roger Lowenstein • Buffett: The Making of an American Capitalist
Benjamin Graham • The Intelligent Investor Rev Ed.: The Definitive Book on Value Investing
Warren Buffet’s famous adage to “be fearful when others are greedy and greedy when others are fearful.”
Ryan Holiday • The Obstacle is the Way: The Ancient Art of Turning Adversity to Advantage
His “golden rule for risk management” is simple: “Know what you own.”
William Green • Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life
“Be fearful when others are greedy and greedy when others are fearful.” His objective was to outperform the market in the long run and so he judged himself largely on his performance relative to the market.
Edward O. Thorp • A Man for All Markets
Morgan’s famous testimony to Congress that character came before money or property.
Frank Partnoy • The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals
arguments. Fundamental conditions were fighting for me. It was not difficult to be both fearless and patient. A speculator must have faith in himself and in his judgment.
Edwin Lefevre • Reminiscences of a Stock Operator
Above all, remember (again, courtesy of Warren Buffett), “What the wise man does in the beginning, the fool does in the end.” Or, as the Oracle of Omaha sometimes expresses it, “There are three i’s in every cycle: first the innovator, then the imitator, and finally the idiot.” No matter what fund managers may offer you, don’t you be the idiot.