A Quote by Edwin Lefevre
Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics, the one thing that strikes you most forcibly is how little either stock speculation or stock speculators today differ from yesterday. The game does not change and neither does human nature.
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Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street.
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
The person that is buying a share of stock is convinced he knows something that the other person who's selling it to him does not know. There's no zero sum game in Wall Street.
Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. I think the clearest summing up of the whole thing was expressed by Thomas F. Woodlock when he declared: “The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.”
There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.
In the 1920s, Wall Street was a world that was really dominated by professional speculators and stock pools. These people had a monopoly over information.
There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.
Prayer does not use up artificial energy, doesn't burn up any fossil fuel, doesn't pollute. Neither does song, neither does love, neither does the dance.
The Bible nowhere says that animals are just made for human use. It does not say that the whole earth is just ours to do with as we like. Neither does it say that God's sole interest is with the human species. We cannot allow such an important and influential book to become the preserve of those who want to exploit animals. The Bible needs to be read, studied, and reclaimed for the animals.
For most of Wall Street's history, stock trading was fairly straightforward: buyers and sellers gathered on exchange floors and dickered until they struck a deal.
Bloomberg does not cater to the Indian audience. It does display Indian stock indices, and during trading hours has a ticker tape of Indian stocks running across the bottom, but then so do most of the news channels.
One of the things Wall Street does not like is ambiguity. Now that the agreement is there, it begins to make the future look a little less cloudy, and that's positively received by Wall Street.
Wall Street is at best ambivalent. The size of the accounts is nothing big. How many Wall Street firms do you know that are running after people with $5,000 accounts?
Those are the stakes that are constantly there and how do those stakes change you? How does that change the person you are? If it does just turn out to be about survival then is that living? How does that make you, you? How does that change your identity? That picture of the governor, his wife, and his daughter, he wasn't that guy before this all started. People dying around him changed him into that.
Just because you buy a stock and it goes up does not mean you are right. Just because you buy a stock and it goes down does not mean you are wrong.
I often think it's comical
How Nature always does contrive
That every boy and every gal
That's born into the world alive
Is either a little Liberal
Or else a little Conservative!
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