A Quote by Larry Hite
I have two basic rules about winning in trading as well as in life: 1. If you don't bet, you can't win. 2. If you lose all your chips, you can't bet.
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Anytime you make a bet with the best of it, where the odds are in your favor, you have earned something on that bet, whether you actually win or lose the bet. By the same token when you make a bet with the worst of it, where the odds are not in your favor, you have lost something, whether you actually win or lose the bet.
Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.
There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you.
I bet on everything. Everything. It's just like, 'I bet you I can spin my chair longer.' Everything, I say 'I bet you.' I love to win.
It's one of my basic premises for tournament play: Choose to bet the lesser amount when a smaller-sized bet will accomplish the same objective as a bigger one.
Before you even consider making a value bet, try to determine if the bet will have any value at all. Attempt to put your opponent on a hand that he'd likely call a bet with on the river. To do this, you'll have to mentally play back the details of the hand. Think about your opponent's playing tendencies.
Bet you never eat, he says. Bet you drink up the oxygen like it's butter. Bet you can go for days on nothing but thoughts.
I think that when somebody loses a bet, they tend to sometimes confuse their motives in rooting and enjoying the game because if you lose your bet, even though the team you're rooting for wins, you have a potentially conflicted outcome.
If you bet on a horse, that's gambling. If you bet you can make three spades, that's entertainment. If you bet cotton will go up three points, that's business. See the difference?
A bet is a bet and I always keep my word in the bet what I do.
I know life goes on if you make a big bet and you lose. But if you don't give yourself the best chance of winning, you're going to kick yourself tomorrow.
I know of a few multimillionaires who started trading with inherited wealth. In each case, they lost it all because they didn't feel the pain when they were losing. In those formative first few years of trading, they felt they could afford to lose. You're much better off going into the market on a shoestring, feeling that you can't afford to lose. I'd rather bet on somebody starting out with a few thousand dollars than on somebody who came in with millions.
Blackjack is very scientific. There's always a right answer and a wrong answer. Do you take a card, increase your bet, bet big or bet small. There's absolutely a right and wrong answer.
I knew it was against the rules to bet on football, but when you've got an addiction you just want to win that money back.
The one thing that I think separates Microsoft from a lot of other people is we make bold bets. We're persistent about them, but we make them. A lot of people won't make a bold bet. A bold bet doesn't assure you of winning, but if you make no bold bets you can't continue to succeed. Our industry doesn't allow you to rest on your laurels forever. I mean, you can milk any great idea. Any idea that turns out to be truly great can be harvested for tens of years. On the other hand, if you want to continue to be great, you've got to bet on new things, big, bold bets.
When I bet on horses, I never lose. Why? I bet on all the horses.
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