Quote for the day

"An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative." - Benjamin Graham

Quote for the day

"Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions." - Daniel Kahneman

Quote for the day

"Know your circle of competence, and stick within it. The size of that circle is not very important; knowing its boundaries, however, is vital." - Warren Buffet

Quote for the day

"Speculate with less than 10% of your liquid net worth. Risk less than 1% of your speculative account on a trade. This tends to keep the fluctuations in the trading account small, relative to net worth. This is essential as large fluctuations can engage {emotions} and lead to feeling-justifying drama." - Ed Seykota

Quote for the day

"Intelligence is not only the ability to reason; it is also the ability to find relevant material in memory and to deploy attention when needed." - Daniel Kahneman

Quote for the day

"We are prone to overestimate how much we understand about the world and to underestimate the role of chance in events." - Daniel Kahneman

Quote for the day

"In the world of business, the people who are most successful are those who are doing what they love." -  Warren Buffett