Jesse Livermore Quotes

Speculation is only a word covering the making of money out of the manipulation of prices, instead of supplying goods and services.

Pouring concrete on land you don't own is called a calculated risk, if you don't pour you loose millions.

I used to trade stocks online, and I kind of felt gross, like, all I'm doing is making money off other people's creativity, and I'm not creating anything myself.

We reward people for making money off money, and moving money around and dividing up mortgages a thousand times over, selling it to China... and it becomes this shell game.

Another great evil arising from this desire to be thought rich; or rather, from the desire not to be thought poor, is the destructive thing which has been honored by the name of 'speculation'; but which ought to be called Gambling.

The higher the risk, the higher the reward.

I made a million, and I lost a million.

The speculator is not an investor.

We have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to declare this approach is as fallacious as it is popular.

Speculator: One who bought stocks that went down.

You can't make money with a consensus accurate prediction.

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

When you feel you have good although incomplete expertise, start trying things. If it's not working, try something else; maintain an experimental mindset.

Don't speculate unless you can make it a full time job.

If you restore a car, and you're making money, then you're doing it wrong.

If you invent frequently and are willing to fail, then you never get to that point where you really need to bet the whole company.

The person that had took a bull by the tail once had learnt sixty or seventy times as much as a person that hadn't, and said a person that started in to carry a cat home by the tail was getting knowledge that was always going to be useful to him, and warn't ever going to grow dim or doubtful. Chances are, he isn't likely to carry the cat that way again, either. But if he wants to, I say let him!

How many years you have to keep on doing, until you know what to do and how to do!

Intelligence takes chances with limited data in an arena where mistakes are not only possible but also necessary.

That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do.

Buy an annuity cheap, and make your life interesting to yourself and everybody else that watches the speculation.

Only those who get into scrapes with their eyes open can find the safe way out.

In engineering, people have a big margin of safety. But in the financial world, people don't give a damn about safety. They let it balloon and balloon and balloon. It's aided by false accounting.

Studios are attracted by making money, and they're also trying to simplify things, going with the genre thing. The gambling instincts of a few years ago where you might make some thousands or a few hundred, it's nothing now.

Personally I don't think day traders are speculating, because traditional speculation requires some market knowledge. They are, instead, gambling, which doesn't.