Jesse Now~ Livermore Lessons, not Ventura Ventures

March 9th, 2010 by Rich

The Money Game

The game of speculation is the most uniformly fascinating game in the world.

It is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, or for the get-rich-quick adventurer. They will die poor.

…the fruits of success are in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions.

There is nothing new in Wall Street. There can’t be, because speculation is as old as the hills.

All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope.

That is why the numerical formations and patterns recur on a constant basis.

Whatever happens in the stock market today, happened before and will happen again.

[Amos 8:5: When will the New Moon be over that we may sell grain?]

There are times when money can be made investing and speculating.

Money cannot consistently be made trading every day or every week during the year.

Only the foolhardy will try it. It just is not in the cards and cannot be done.

The point is not so much to buy as cheap as possible or go short at top price, but to buy or sell at the right time. [When others give up.]

I am tired of hearing the papers and public blame Wall Street for parting fools from their money…

It’s the successful businessman who is the biggest sucker of the lot.

He has made a fortune in his own line. How? By being on the job for years; by learning all there was to know about it; by taking reasonable chances; by utilizing his knowledge and experience to anticipate probabilities.

He wants to increase that fortune at a faster rate, with less effort and knowledge in the markets.

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This entry was posted on Tuesday, March 9th, 2010 at 7:08 pm and is filed under Market Psychology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Jesse Now~ Livermore Lessons, not Ventura Ventures”

  1. Vahram Says:
    March 11th, 2010 at 9:34 pm

    rich write a book, i’ll be the first one to buy it.

  2. Rich Says:
    March 16th, 2010 at 7:43 pm

    Thanks Vahram.
    Wrote Four:
    A.Mind, Money, Market 1981
    (Syllabus for Stanford Investment courses taught by Five years of Academic Senate Appointment)
    B.The Politics of Prosperity 1994
    (Plan for renewing Constitutional Government)
    C. The Gift 2008
    (Predicted the Panic and what to do to protect capital and income)
    D. The Tortuga eManual 2009
    (Bottom line lessons from over 50 years in the market, starting with pulling weeds for silver dollars)
    Spring Portfolio of TopTen Closely Held Dividend Discounts comes out this weekend.
    Big4 Asset Allocation Portfolio comes out every Weekend.
    Regards*Rich

 

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