The average man doesn't wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think.
Interpretation
People often prefer simple solutions over deep understanding or effort.
This quote reflects the tendency of many individuals to seek quick, easy answers in the complex world of investing rather than engaging in the thought and labor involved in understanding the market. It highlights a common desire for effortless gains and avoidance of responsibility, pushing against the notion that true success requires work and analysis.
In practice
In a financial seminar discussing the mindset of investors.
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!
Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader.
At long as a stock is acting right, and the market is right, do not be in a hurry to take profits. One should never permit speculative ventures to run into investments.
He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.
Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.
It is what people actually did in the stock market that counted - not what they said they were going to do.
Owning our story can be hard but not nearly as difficult as spending our lives running from it.
The one who confidently looks forward to an eternal reward for his efforts in mortality is constantly sustained through his deepest trials. When he is disappointed in love, he does not commit suicide. When loved ones die, he doesn’t despair; when he loses a coveted contest, he doesn’t falter; when war and destruction dissipate his future, he doesn’t sink into a depression. He lives above his world and never loses sight of the goal of his salvation.
Don't part with your illusions. When they are gone you may still exist, but you have ceased to live. To live a fulfilled life, we need to keep creating the "what is next", of our lives. Without dreams and goals there is no living, only merely existing, and that is not why we are here.
Of all wild beasts preserve me from a tyrant; and of all tame a flatterer.
One of the things you can always depend on - this is one of the truths of the universe, and you heard it first from here - whatever we decide we want to do is what we do.
Nothing is lost upon a man who is bent upon growth; nothing wasted on one who is always preparing for - life by keeping eyes, mind and heart open to nature, men, books, experience - and what he gathers serves him at unexpected moments in unforeseen ways.
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