Michael [Marcus] taught me one thing that was incredibly important... He taught me that you could make a million dollars. He showed me that if you ap…

- Bruce Kovner

Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you thin…

- Bruce Kovner

Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I'm getting out before I get in. The positio…

- Bruce Kovner

Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with …

- Bruce Kovner

If you don't work very hard, it is extremely unlikely that you will be a good trader.

- Bruce Kovner

The first rule of trading - there are probably many first rules - is don't get caught in a situation in which you can lose a great deal of money for …

- Bruce Kovner

If you personalize losses, you can't trade.

- Bruce Kovner

Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he's not going to take a patient's temperatu…

- Bruce Kovner

The Heisenberg principle - If something is closely observed, the odds are it is going to be altered in the process. The more a price pattern is obser…

- Bruce Kovner