All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: Terry Whitman who wrote (41313)	6/22/2000 8:51:00 AM
From: Earlie	Read Replies (2) of 42523

Clap (couldn't resist - G): The guys on this thread have beaucoup experience and plenty of scars, so you have come to a grungy but excellent gymn in which to continue your training. I second the advice provided. Couldn't have put it better. The toughest lesson I have had to learn (and it has been expensive) is to leap quickly from the tracks if a train whistle is heard (especially when short). The second one is that fundamentals don't rule in a mania so don't get dogmatic about your own (excellent as it may be in your own mind) fundamental research. (g) The most important rule is the most fundamental one. Don't lose your capital. Of course it is also the rule that all of us contravene frequently, much to our chagrin. (g) A very rich and very bright friend of mine, possibly one of the most successful investors I have ever met, gave me some solid advice that I haven't forgotten. "A pro has to lose everything he has accumulated, at least twice and maybe three times before he will really understand the market and how to make money in it. Most people can't take the anguish of having experienced some wealth and then having lost it. It provides a consequential barrier to entry". (g) Best, Earlie

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