Wit and Wisdom on Money, Wall Street and Success - Part #4

Can you concisely summarize your investment philosophy in a few sentences? My experience is that most people can't. The quotes that follow are diamonds that offer a real powerful education in the world of Risk Management. They have had a profound impact in my life. I pass them along hoping they achieve a similar effect on your investments. Enjoy!

1) "Rule No. 1: Never lose money. Rule No 2: Never forget Rule No. 1." -

-Warren Buffett

2) "Large profits can be made in common stocks. Large losses can be made in common stocks."

-Peter Lynch

3) "A fool and his money are soon parted."

-Unknown

4) "A fool and his money were lucky to get together in the first place."

-W.C. Fields

5) "You should invest in a business that even a fool can run, because someday a fool will."

- Warren Buffett

6) "The key in life is to figure out who to be the bat boy for."

-Warren Buffett

7) "Let Wall Street have a nightmare and the whole country has to help them get back to bed again." - Will Rogers, The Autobiography of Will Rogers

8) "There are two fools in every market. One asks too little, the other asks too much." - Russian Proverb

9) "The elements of good trading: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance." -Ed Seykota

10) "That market doesn't care whether you are IN or OUT! With that being the case, my question is who are you competing against? Most people will answer 'everyone else' my response is 'look in the mirror.'" - Harald Anderson Analyst at eOptionsTrader.com

Harald Anderson is the founder and Chief Analyst of eOptionsTrader.com a leading online resource of Options Trading Information. He writes regularly for financial publications on Risk Management and Trading Strategies. His goal in life is to become the kind of person that his dog already thinks he is. http://www.eOptionsTrader.com.

In The News:
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.laspecula.com/index.php%3Foption%3Dcom_content%26task%3Dview%26id%3D1421%26Itemid%3D1cid=1257878815ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNGfn1DjUxhbcGRgnot-ihF3yMKT4wUS bInvesting/b $250 Billion in Banks/abrfont size=-1font color=#6f6f6fLa Specula,nbsp;Italynbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1He essentially told the participants that they would have to accept government binvestment/b for the good of the American financial system. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.midasletter.com/commentary/081014_Bull-market-reset.phpcid=1257878815ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNHLw5jf0g17mVX0sVUOE95eWbrU7ABull Market Reset/a font size=-1 color=#6f6f6fnobrMidas Letter/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257878815hl=ennobrall 520 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3197796/Financial-crisis-Few-regulatory-fears-for-alternative-investing.htmlcid=1256731910ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNGi6tln_xkNHkral3Edtmst5qLOIgFinancial crisis: Few regulatory fears for alternative binvesting/b/abrfont size=-1font color=#6f6f6fTelegraph.co.uk,nbsp;United Kingdomnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1Fears that the new regulatory environment in the banking will have a knock-on effect on the alternative binvestment/b industry are being played down by two of b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://online.wsj.com/article/SB122385551752227093.html%3Fmod%3Dgooglenews_wsjcid=1256731910ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNH_v3qqiCeDZ6Tpmf0sXicJc6sMQAFunds of Hedge Funds are Under Pressure/a font size=-1 color=#6f6f6fnobrWall Street Journal/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256731910hl=ennobrall 16 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bpnews.net/BPnews.asp%3FID%3D29123cid=1257812140ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNEvlWF5oQYiqRQCuGp3TSylBQIN7QGuideStone fields binvestment/b questions/abrfont size=-1font color=#6f6f6fBP News,nbsp;TNnbsp;-/font nobr4 hours ago/nobr/fontbrfont size=-1In return for the growth of your investments, you realize there is a possibility that the amount of your binvestment/b could decrease in value. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bpnews.net/BPnews.asp%3FID%3D29122cid=1257812140ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNEDnmmRXV7CW5Q8pzeUXbKhQj3nYAGuideStone online resources address market volatility/a font size=-1 color=#6f6f6fnobrBP News/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257812140hl=ennobrall 4 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://news.bbc.co.uk/go/click/rss/1.0/-/2/hi/business/7668704.stmcid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNF1PncyX1hsFSUTmmrBJ8l9nZ10HAimg src=http://news.google.com/news?imgefp=t5K40LCPvs8Jimgurl=newsimg.bbc.co.uk/media/images/45105000/jpg/_45105596_-17.jpg width=80 height=60 alt= border=1brfont size=-2BBC News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.thestreet.com/story/10442076/1/us-to-unveil-bank-investing-plans-report.html%3Fpuc%3Dgooglefi%26cm_ven%3DGOOGLEFI%26cm_cat%3DFREE%26cm_ite%3DNAcid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNE5F0YmWnlAuugVkLaKRLS6uM4UtAUS to Unveil Bank-bInvesting/b Plans: Report/abrfont size=-1font color=#6f6f6fTheStreet.comnbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1The federal government is planning to unveil new initiatives to address stalled credit markets Tuesday, including a plan to buy equity stakes in banks, b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.winknews.com/news/consumer/economynews/30948614.htmlcid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNEDaS8p80tlaeLgl8Q5d-z0IDhwXgGovernment binvesting/b in banks/a font size=-1 color=#6f6f6fnobrWINKNEWS.com/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://online.wsj.com/article/SB122390023840728367.html%3Fmod%3Dtodays_us_page_onecid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNGzAaiXVQnQKrSu5OtDRl11lgHoWQUS to Buy Stakes in Nation#39;s Largest Banks/a font size=-1 color=#6f6f6fnobrWall Street Journal Blogs/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.3news.co.nz/News/InternationalNews/US-Government-invests-250-billion-in-major-banks/tabid/417/articleID/75789/cat/61/Default.aspxcid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNGCzpWVUfzACAgXQWCBiS_ZOaHQoAUS Government invests $250 billion in major banks/a font size=-1 color=#6f6f6fnobr3 News NZ/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/14/opinion/14tue1.html%3Femcid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNETzi0pjeYIndkXDlI-yVU2xotZXQnobrNew York Times/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.npr.org/templates/story/story.php%3FstoryId%3D95702863cid=1257778017ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNG4b0tS0kG_SfUkoVCV5I_jYcDBuwnobrNPR/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257778017hl=ennobrall 1,732 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.theaustralian.news.com.au/business/story/0,28124,24476033-5001942,00.htmlcid=1257686162ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNG8FFH6B7NucpimD2NNA5l-LLyvsAGetting interesting times into binvesting/b perspective/abrfont size=-1font color=#6f6f6fThe Australian,nbsp;Australianbsp;-/font nobr12 hours ago/nobr/fontbrfont size=-1It is always dangerous to talk about past binvestment/b performances as if they were sure to be repeated. Nevertheless it sometimes helps in putting some of b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://blogs.wsj.com/wallet/2008/10/14/loose-change-101408/%3Fmod%3Dgooglenews_wsjcid=0ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNELbDnmTb9Fzi5K1Oi1vdJAarClCAimg src=http://news.google.com/news?imgefp=wCaYVXqLL_gJimgurl=s.wsj.net/media/debt_art_200v_20081013181106.jpg width=56 height=80 alt= border=1brfont size=-2Wall Street Journal Blogs/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://blogs.wsj.com/wallet/2008/10/14/loose-change-101408/%3Fmod%3Dgooglenews_wsjcid=0ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNELbDnmTb9Fzi5K1Oi1vdJAarClCAThe Wallet covers the latest personal finance and binvesting/b news b.../b/abrfont size=-1font color=#6f6f6fWall Street Journal Blogs,nbsp;NYnbsp;-/font nobr12 hours ago/nobr/fontbrfont size=-1-Are credit cards at a tipping point? There’s more borrowing and less paying. [RedTapeChronicles] -I Will Teach You To Be Rich is doing a regular feature b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5gWYTZ9ZK9TgGTXmNBQN7xEnDn3KgD93PRHGG0cid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNGdAy1ngoW67IcpRHNhypJbO2zaUAimg src=http://news.google.com/news?imgefp=aRDYda_3xTIJimgurl=ap.google.com/media/ALeqM5jqeqkgVs-77y-fFtL0lJ3BBU9DuQ width=45 height=80 alt= border=1brfont size=-2The Associated Press/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.fool.com/investing/value/2008/10/14/party-like-its-2007.aspxcid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNHOWzcngx7EM_vp5vbg7FNBlCCZwwParty Like It#39;s 2007/abrfont size=-1font color=#6f6f6fMotley Foolnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1I doubt I#39;ll ever see some of the single-day share price movements of large household names again in my binvesting/b lifetime. For example: Suddenly, it was b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://seekingalpha.com/article/99744-stocks-for-the-long-runcid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNG0eMSOCzzaF0JJyC-IcIaB4526owStocks for the Long Run?/a font size=-1 color=#6f6f6fnobrSeeking Alpha/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nick.com/all_nick/tv_supersites/nick_news/stories_weekly.jhtml%3FpollId%3D470421996%26wstory%3D0cid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNE5dnVb5TiMCjSIx5-5FQfR0qj9VQKids Take a Wild Ride on the Stock Market Roller Coaster/a font size=-1 color=#6f6f6fnobrNick.com/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://online.wsj.com/article/SB122394011082730699.html%3Fmod%3Dgooglenews_wsjcid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNFJ8Ul0LUo9KVoaucWzPblzyQBnUwDow Takes Giant Leap as Bailouts Snap Gloom/a font size=-1 color=#6f6f6fnobrWall Street Journal/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.greaterkashmir.com/full_story.asp%3FDate%3D13_10_2008%26ItemID%3D5%26cat%3D5cid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNGI2wWxcWJZacvmmsLSgBLbUXXm8wnobrGreaterKashmir.com (press release)/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://seekingalpha.com/article/99613-fear-still-dominates-but-probabilities-point-to-an-impending-positive-rallycid=1257871579ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNFVTqKD_xRhHhuESLZV3eImjxq7pgnobrSeeking Alpha/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257871579hl=ennobrall 287 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.stuff.co.nz/4726745a1864.htmlcid=1257436136ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNHe8krr33BQCjfrusXz7lpupKYI6gMore to binvesting/b than fear and greed/abrfont size=-1font color=#6f6f6fStuff.co.nz,nbsp;New Zealandnbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1A hoarder, without breaking the bank, could maintain their disciplined approach to money but put their money into an binvestment/b vehicle that could net them b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.kfsm.com/Global/story.asp%3FS%3D9178256cid=0ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNFbTHTSEHDR-50asNmcHIUhJzWGhgArea cities binvesting/b with restraint, as economy worsens/abrfont size=-1font color=#6f6f6fKFSM,nbsp;ARnbsp;-/font nobr3 hours ago/nobr/fontbrfont size=-1SPRINGDALE - Fluctuations in the economy mean many are worrying about their city#39;s binvestment/b stability, as well as their own. With the national economic b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://goldnews.bullionvault.com/Goldbug/gold_investment/gold_investing_outlook_increases_mmtc_import_plans_18826621cid=1257552001ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNE8QtC85U5th0vPwVwAmow9FFWuhwGold binvesting/b outlook increases MMTC import plans/abrfont size=-1font color=#6f6f6fBullionVault (press release),nbsp;UKnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1quot;The price of gold is bound to go up in the long term, therefore people will hedge by binvesting/b in it.quot; World Gold Council figures put India as the biggest b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://in.reuters.com/article/businessNews/idINIndia-35948420081014cid=1257552001ei=s0_1SKzCB4yQ6wPdg53jAgusg=AFQjCNH9oqdZ_ERVQi1I4NYHhlv-2G_LKgMMTC sees gold imports up 23 pct in 08/09/a font size=-1 color=#6f6f6fnobrReuters India/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257552001hl=ennobrall 9 news articles/nobr/a/font/div/font/td/tr/table
investing - Google News


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