Quote of the Day – Nov 15th

I would like to have a section like the “Quote of the Day” on my blog. Of course these will be quotes I find interesting for my readers. I will be quoting famous traders, investors or business people as often as I can. My aim is not to have blog readers copy somebody else’s way of thinking uncritically but to learn from other people’s valuable experience at the marketplace.

So, I would start with Jesse Livermore, one of the most well known traders of the first half of the last century. He has always been one of my favorite traders of all time. His way of thinking was revolutionary for his era even if he was not always right with his trading (who is anyway?). If you want to read more about him there is a lot of material on the Internet and your favorite financial bookstore, so I will not need to copy-paste already available information here. Therefore, I would like to start the “Finance Quote of the Day” section with this one by him:

“THERE IS ONLY ONE SIDE OF THE MARKET AND IT IS NOT THE BULL SIDE OR THE BEAR SIDE, BUT THE RIGHT SIDE.”

If this sounds familiar to you, yes… It is the essence of one of my previous posts where I mentioned that I do not favor the bull over the bear side of the market, as both are very useful and profitable if used properly by market participants.