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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.08+0.1%Nov 7 9:30 AM EST
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To: bambs who wrote (35385)5/10/2000 8:46:00 PM
From: Monty Lenard  Read Replies (2) of 77397
 
Bambs here is a couple of more quotes from Jessie Livermore that are quite appropriate.

T?he money lost by speculation alone is small compared with the gigantic sums lost by so-called investors who have let their investments ride."

and

"The recognition of our own mistakes should not benefit us any more than the study of our successes. But there is a natural tendency in all men to avoid punishment. When you associate certain mistakes with a licking, you do not hanker for the second dose, and, of course all stock market mistakes wound you in two tender spots....your pocketbook and your vanity. But I will tell you something curious: A stock speculator sometimes makes mistakes and knows that he is making them. And after he makes them he will ask himself why he made them; and, after thinking over it cold-bloodedly a long time after the pain and punishment is over he may learn how he came to make them, and when, and at what particular point of his trade, but not why. And then he simply calls himself names and lets it go at that.

Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers and cousins of the original. The MISTAKE family is so large that there is always one of them around when you want to see what you can do in the fool-play line."

Don't know if you have ever read Livermore but it is really interesting and there are a lot of little gems in his book.

Monty
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