I take the point of view that missing an important trade is a much more serious error than making a bad trade.

It's much easier to learn what you should do in trading than to do it. Good systems tend to violate normal human tendencies.

Amateurs go broke taking large losses, professionals go broke taking small profits.

Don't think about what the market's going to do; you have absolutely no control over that. Think about what you're going to do if it gets there.

Good systems tend to violate normal human tendencies.

You can be very promiscuous in your research, but not in your trading.

If the losses don't hurt, your financial survival is tenuous.

What feels good is often the wrong thing to do.

The question that is upon my lips (please forgive me) is the doubt in your heart

Generosity is not in giving me that which I need more than you do, but it is in giving me that which you need more than I do.

Self-pity is never useful. It tends to distort like a fun-house mirror.

Passion is like the lightning, it is beautiful, and it links the earth to heaven, but alas it blinds!

Some things I thought were important for a young man to know.

Nothing will undermine your effectiveness as a leader faster than a bad marriage.

I benefit from the Mr. Potato Head syndrome. Put a wig and a nose and glasses on me, and I disappear.

If I want to understand the laws of physics I have to first believe what I read about physics. I have to have faith in what I read.

We've already donated to Haiti. It's called the U.S. income tax.

I suspect most of life takes place in the interstices of what's already been articulated.