I’ve learned many things from George Soros, but perhaps the most significant is that it’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
STANLEY DRUCKENMILLER
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“Today I make space for miracles. I recognize that it’s not how big a miracle is that’s important but how much room I create for it”
KYLE GRAY
The Twelve Silliest (and Most Dangerous) Things People Say About Stock Prices
- IF IT’S GONE DOWN THIS MUCH ALREADY, IT CAN’T GO MUCH LOWER.
- YOU CAN ALWAYS TELL WHEN A STOCK’S HIT BOTTOM
- IF IT’S GONE THIS HIGH ALREADY, HOW CAN IT POSSIBLY
GO HIGHER?
- IT’S ONLY $3 A SHARE: WHAT CAN I LOSE?
- EVENTUALLY THEY ALWAYS COME BACK
Know your facts
How many times have you made a claim about some piece of trivia only to realize, as soon as you’ve made that claim, that you’re completely wrong?
Stop and think before you make such errors, and you’ll be less likely to lose, whether the matter is trivia or a truly important
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