A Quote by E. M. Forster
There's never any great risk as long as you have money.
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I'll keep reducing my trading size as long as I'm losing My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.
Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That's why most people lose money as individual investors or traders because they're not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they're going to make, then they will be incredibly successful investors.
I never cared about money because I never needed money, you know what I mean? When I was 12 to 17 I never saw any of the money, so the money never motivated me.
I hung around hippie-ish kind of people and, first of all, they never made any money. If you never make any money, you never have to declare any profession!
We regard using [a stock's] volatility as a measure of risk is nuts. Risk to us is 1) the risk of permanent loss of capital, or 2) the risk of inadequate return. Some great businesses have very volatile returns - for example, See's [a candy company owned by Berkshire] usually loses money in two quarters of each year - and some terrible businesses can have steady results.
Marriage is a risk; I think it's a great and glorious risk, as long as you embark on the adventure in the same spirit.
Thus a long term corporate bond could actually be sold to three separate persons. One would supply the money for the bond; one would bear the interest rate risk, and one would bear the risk of default. The last two would not have to put up any capital for the bond, though they might have to post some sort of collateral.
You should never risk your integrity or your soul for any amount of money.
When I first got into acting, I never had any long-term goals, never had any plan. I just thought it would be a good way to make some extra money.
Never risk more than 1% of total account equity on any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical.
The second thing we did was said, OK, we've now identified the risk, but what do you want to do with the money? Because it's not enough to have risk; you've got to have a meaningful use for the money we give you.
What caused 2008, in my opinion, is that people just didn't see the risk. These people that took on all this risk didn't think they had it - they thought they hedged it all away. As long as there's a perception of risk, and a culture of looking for risk, it's going to be hard to deflate us.
And then at the end of the day, the most important thing is how good are you at risk control. Ninety-percent of any great trader is going to be the risk control.
Warren Buffett likes to say that the first rule of investing is "Don't lose money," and the second rule is, "Never forget the first rule." I too believe that avoiding loss should be the primary goal of every investor. This does not mean that investors should never incur the risk of any loss at all. Rather "don't lose money" means that over several years an investment portfolio should not be exposed to appreciable loss of principal.
I'm open to doing any kind of role and any kind of genre as long as it's interesting and as long as I feel it could be a great character to play. I never take into my own personal opinions or my own public image into account when I chose movie roles.
We had a great lunch. Senator Capper paid for it. The Republican pays, as usual. And everything that the Democrats are doin' now, the Republicans pay for it. Everybody asks me, "Will, how long is this going to go on, spending all this money and everything going like this?" I says, "Well, it will go on just as long as the Republicans has got any money. That's all I know about it."
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