A Quote by Steve Burns

The best traders are simply slaves to the market's price action — © Steve Burns
The best traders are simply slaves to the market's price action
Traders can cause short-term volatility. In the long run, the market must revert to a sensible price/earnings multiple.
Clearly the price considered most likely by the market is the true current price: if the market judged otherwise, it would quote not this price, but another price higher or lower.
There is abundant proof that the opening of our ports always tends to raise the price of foreign corn to the price in the English market, and not to sink the price of British corn to the price in the continental market.
Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.
In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee's lord. He is simply the buyer of services which he must purchase at their market price.
We are slaves in the hands of nature - slaves to a bit of bread, slaves to praise, slaves to blame, slaves to wife, to husband, to child, slaves to everything.
The best traders I know are also the most humble people I know, coincidence? Or has the market taught them some very valuable lessons?
Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.
The best restraint is old-fashioned market discipline, in which financial traders know that they, personally, will lose a ton of money if they take risky bets that don't pan out.
Those who know me well will tell you that I love a market, and when I say market, I mean food market. No matter where in the world, they allow me to soak up the culture, to hear the rhythmic chattering of the local people and traders, and take in the all-important smells, pungent and intoxicating.
We built a market at IEX that does not sell certain types of technology advantages to high-frequency traders, and as a result, the high-frequency traders that didn't rely on buying those advantages trade on IEX.
With a population of 1.4 billion, China is a lucrative market. But getting into that market isn't cheap. At best, the price of doing business in China is silence; at worst, it's reading talking points straight from the Chinese Communist Party. Beijing is not subtle about it.
People forget that although we can pinpoint the price, we can only guess at future earnings. The past isn't much help: It simply tells whether a market was pricey or cheap.
Every relationship can feel saturated by market logic or at best purchased at the price of the immiseration of others.
It doesn't matter whether the market is up or down. All the day traders want is volatility.
Big telecommunications monopolies - many of whom now seek to be content providers as well - shouldn't be able to price others out of the market simply because they can't pay as much as the giants.
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