Max Gunther (1985) - The fact is, nobody has the faintest idea of what is going to happen
next year, next week, or even tomorrow. If you hope to get anywhere as a
speculator, you must get out of the habit of listening to forecasts. It
is of the utmost importance that you never take economists, market
advisers, or other financial oracles seriously.
[...] It is unlikely that God's plan for the universe includes making you rich. [...] To make any kind of gain in life – a gain of wealth, personal stature, whatever you define as 'gain' – you must place some of your material and/or emotional capital at risk. You must make a commitment of money, time, love, something. That is the law of the universe. [...] Of course, risk is a two-way street. But look at it this way. As an ordinary tax-hounded, inflation-raddled income earner, carrying much of the rest of the world on your back, you are in pretty sorry financial state anyhow.
[...] Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough. [...] Always take your profit too soon. Amateurs on Wall Street do it. Amateurs in poker games do it. Amateurs everywhere do it. They stay too long and lose. [...] If you can conquer greed, that one act of self-control will make you a better speculator than 99 percent of other men and women who are scrambling after wealth.
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