Don't Be A Hero. Don't Have An

It Is Not That We Had Any Unfair Knowledge That Other People Didn't Have, It Is Just That We Did Our Homework. People Just Don't Want To Believe That Anyone Can Break Away From The Crowd And Rise Above Mediocrity.

Don't Be A Hero. Don't Have An Ego.

My Off-the-cuff Remarks At The University Of Virginia Were With Regard To Global Macro Traders, Who Are On-call 24/7 And Of Whom There Are Likely Only A Few Thousand Successful Practitioners In The World Today. Macro Trading Requires A High Degree Of Skill, Focus And Repetition. Life Events, Such As Birth, Divorce, Death Of A Loved One And Other Emotional Highs And Lows Are Obstacles To Success In This Specific Field Of Finance.

Fundamentals Might Be Good For The First Third Or First 50 Or 60 Percent Of A Move, But The Last Third Of A Great Bull Market Is Typically A Blow-off, Whereas The Mania Runs Wild And Prices Go Parabolic... There Is No Training, Classroom Or Otherwise, That Can Prepare For Trading The Last Third Of A Move, Whether It's The End Of A Bull Market Or The End Of A Bear Market.

I'm Always Thinking About Losing Money As Opposed To Making Money. Don't Focus On Making Money, Focus On Protecting What You Have