A Quote by Jesse Lauriston Livermore
I did precisely the wrong thing. The cotton showed me a loss and I kept it. The wheat showed me a profit and I sold it out. Of all the speculative blunders there are few greater than trying to average a losing game. Always sell what shows you a loss and keep what shows you a profit.
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There can be no profit in the making or selling of things to be destroyed in war. Men may think that they have such profit, but in the end the profit will turn out to be a loss.
The [liberals] consider profits as objectionable. The very existence of profits is in their eyes a proof that wage rates could be raised without harm to anybody. They speak of profit without dealing with loss. Profit and loss are the instruments by means of which the consumers keep a tight rein on all business activities. A profitable enterprise tends to expand; an unprofitable one tends to shrink. The elimination of profit renders production rigid and abolishes the consumer's control.
When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.
The public, as a whole, buys at the wrong time and sells at the wrong time. The average operator, when he sees two or three points profit, takes it; but, if a stock goes against him two or three points, he holds on waiting for the price to recover, with oftentimes, the result of seeing a loss of two or three points run into a loss of ten points.
Money gained on Sabbath-day is a loss, I dare to say. No blessing can come with that which comes to us, on the devil's back, by our willful disobedience of God's law. The loss of health by neglect of rest, and the loss of soul by neglect of hearing the gospel, soon turn all seeming profit into real loss.
Capital does not 'beget profit' as Marx thought. The capital goods as such are dead things that in themselves do not accomplish anything. If they are utilized according to a good idea, profit results. If they are utilized according to a mistaken idea, no profit or losses result. It is the entrepreneurial decision that creates either profit or loss.
Prison was a blessing. Going to prison was the greatest thing that happened to me. It showed me that I wasn't infallible. It showed me that I was just human. It showed me that I can be back with my ghetto brothers I grew up with and have a good time. It taught me to cool out. It taught me patience. It taught me that I didn't ever want to lose my freedom. It taught me that drugs bring on the devil. It taught me to grow up.
Losing money is a big loss, losing friends is greater than the loss, also lost all faith is lost
As I was growing up, I did a lot of talent shows. I won fifteen Sunday nights straight in a series of talent shows in Macon. I showed up the sixteenth night, and they wouldn't let me go on any more. Whatever success I had was through the help of the good Lord.
I remember I had a psychologist that I worked with in Phoenix tell me one time that the loss of a job and the loss of one's wealth is more devastating to most than losing a loved one or getting divorced. And that really hit me.
It was really difficult to sing; nobody showed me how to do it. I remember early Screaming Trees shows in the '80s when I'd walk away with a pounding headache from trying to sing way out of my range.
Even with a margin of safety in the investor's favor, an individual security may work out badly. For the margin guarantees only that he has a better chance for profit than for loss - not that loss is impossible. But as the number of such commitments is increased the more certain does it become that the aggregate of the profits will exceed the aggregate of the losses.
[In] death at least there would be one profit; it would no longer be necessary to eat, to drink, to pay taxes, or to [offend] others; and as a man lies in his grave not one year, but hundreds and thousands of years, the profit was enormous. The life of man was, in short, a loss, and only his death a profit.
The total loss of hearing was a process that lasted more than a decade, but it was sufficiently gradual for me to attend Sydney Boys' High School and to profit from the teaching there.
(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss
A small profit is better than a big loss.
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