A Quote by Jesse Lauriston Livermore
Experience has proved to me that real money made in speculating has been in commitments in a stock or commodity showing a profit right from the start.
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It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.
The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.
in this society, dominated as it is by the profit-seeking ventures of monopoly corporations, health has been callously transformed into a commodity - a commodity that those with means are able to afford, but that is too often entirely beyond the reach of others.
I've been lucky because my films have consistently made a profit, almost all of them have made a profit. Never a huge profit, but nobody gets hurt. And therefore I get a lot of freedom.
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend on earning money for what they can spend. The 1% makes its money basically by lending out their money to the 99%, on charging interest and speculating. So the stock market's doubled, the bond market's gone way up, and the 1% are earning more money than ever before, but the 99% are not. They're having to pay the 1%.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating.
Major labels didn't start showing up really until they smelled money, and that's all they're ever going to be attracted to is money-that's the business they're in- making money.
Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.
Economic theory has nothing to say as to what commodity will acquire the status of money. Historically, it happened to be gold. But if the physical makeup of our world would have been different or is to become different from what it is now, some other commodity would have become or might become money. The market will decide.
I tell people to look at me and understand that everybody first told me that I couldn't be a 6-foot, 9-inch point guard, and I proved them wrong. Then they told me I couldn't be a businessman and make money in urban America, and I proved them wrong. And they thought I couldn't win all these championships, and I proved them wrong there as well.
What's so kind of beautiful about the whole thing was that everything that made me not right for all of those hundreds of commercial auditions that I went on and no one ever wanted me for is what made me perfectly right for 'Real Women Have Curves'.
If the world market believed that we were serious about energy independence and we were going to utilize all of our own existing resources, the speculators would stop speculating up they start speculating down as we get our own oil out of the ground.
Integrity is keeping my commitments even if the circumstances when I made those commitments have changed.
I’d say that Berkshire Hathaway’s system is adapting to the nature of the investment problem as it really is. We’ve really made the money out of high quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But when you analyze what happened, the big money’s been made in the high quality businesses. And most of the other people who’ve made a lot of money have done so in high quality businesses.
Such huge money has been made in China - it can be hundreds of millions in a year - and there's a need to validate it by showing what they can buy and how much of it.
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