It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
The financial markets generally are unpredictable. So that one has to have different scenarios. The idea that you can actually predict what's going to happen contradicts my way of looking at the market.
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
The worse a situation becomes, the less it takes to turn it around, the bigger the upside.
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
I'm only rich because I know when I'm wrong. I basically have survived by recognizing my mistakes.
The financial markets are a great servant but a bad master.
The more complex the system, the greater the room for error.
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
People have a habit of inventing fictions they will believe wholeheartedly in order to ignore the truth they cannot accept.