Lloyd Blankfein Quotes

Soros is the best loss taker I've ever seen. He doesn't care whether he wins or loses on a trade. If a trade doesn't work, he's confident enough about his ability to win on other trades that he can easily walk away from the position.

Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.

The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.

If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

Zeroing in on the best sectors or the best regions of the world is great, but zeroing in on the very best individual stocks is the key to making truly impressive profits.

Macro-trading requires a high degree of skill, focus and repetition. Life events, such as birth, divorce, death of a loved one and other emotional highs and lows are obstacles to success in this specific field of finance.

Everybody who goes through the business will make mistakes. The big question is how big will the mistakes be? How fast will they learn from the mistakes, and how quickly will they get the business in the correct direction?

I was not a student of Wall Street, but I was a quick study.

The essence of good business is knowing when to step on a train and when to step off.

You take the noise and put it in data information knowledge, and you get insight from that knowledge. How to execute the trade, the timing, sizing, long, short, and then you risk manage it.

Nobody has a crystal ball, and part of evolving a business plan is to say, 'I might have said we're going left, but I see the opportunity and we're going right.'

Security... it's simply the recognition that changes will take place and the knowledge that you're willing to deal with whatever happens.

What an entrepreneur does is to build for the long run. If the market is great, you get all of the resources you can. You build to it. But a good entrepreneur is always prepared to throttle back, put on the brakes, and if the world changes, adapt to the world.

Trading demands total concentration and the ability to do several things at once while instantly recalling trading prices from the day, or week, before.

In markets, there are times when you are looking for what makes sense. At other times, you are looking for what you can do that is sensible versus constraints and uncertainties.

Business is the systematic playing of games.

If you are going to be a great investor, you have to fit the style to who you are.

History rewards those who can change their minds when the stakes are high.

There are a lot of parallels between being a mutual fund manager and being a general manager. Both in the financial markets and in baseball, we're dealing with a world where uncertainty reigns. We're trying to predict the future performance of human beings. It's a fundamental difficulty for which we both have to account.

If you reach for something and find out it's the wrong thing, you change your program and move on.

Accepting trial and error means accepting error. It means taking problems in our stride when a decision doesn't work out, whether through luck or misjudgment. And that is not something human brains seem to be able to do without a struggle.

Plan B. You've always got to have a Plan B.

Soros is the best loss taker I've ever seen. He doesn't care whether he wins or loses on a trade. If a trade doesn't work, he's confident enough about his ability to win on other trades. There are a lot of shoes on the shelf; wear only the ones that fit. If you're extremely confident, taking a loss doesn't bother you.

The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.

After we have thought out everything carefully in advance and have sought and found without prejudice the most plausible plan, we must not be ready to abandon it at the slightest provocation. should this certainty be lacking, we must tell ourselves that nothing is accomplished in warfare without daring; that the nature of war certainly does not let us see at all times where we are going; that what is probable will always be probable though at the moment it may not seem so; and finally, that we cannot be readily ruined by a single error, if we have made reasonable preparations.