Sunday, January 2, 2011

Well-Authenticated Hoodoos

"Like all well-authenticated hoodoos this has its reason for
being. What does a man do when he sets out to make the stock
market pay for a sudden need? Why, he merely hopes. He gambles.
He therefore runs much greater risks than he would if he were
speculating intelligently, in accordance with opinions or
beliefs logically arrived at after a dispassionate study of
underlying conditions. To begin with, he is after an immediate
profit. He cannot afford to wait. The market must be nice to him
at once if at all. He flatters himself that he is not asking
more than to place an even-money bet. Because he is prepared to
run quick -- say, stop his loss at two points when all he hopes
to make is two points -- he hugs the fallacy that he is merely
taking a fifty-fifty chance. Why, I've known men to lose
thousands of dollars on such trades, particularly on purchases
made at the height of a bull market just before a moderate
reaction. It certainly is no way to trade."


1 comment:

  1. I have a project I call "REAL DATA". If any of y'all got some good data you want posted up for the public domain, for free, let me know. This is very preliminary work on my part. I hope someday that this is a real useful depository of mostly financial information.

    Jan 2, 2011 Adding: Historical Inflation Data to 1912, and historical oil price data. These are very interesting.

    Oil Prices to 1946 and Inflation to 1914

    Sentiment Data from 1987

    Earthquake List to Year 1900

    List of 1000 ETFs in Excel format

    List of 1000 ETFs

    At Hawaii Trading, there are 6 pages to the blog, one is called "REAL DATA SERIES" and you can find some neat stuff posted that you can download directly as an Excel file, and there will be some PDF's also. Mahalo for visiting!