Quote#Education
There is nothing like losing all you have in the world for teaching…
Quote byEdwin Lefèvre · 1871–1943
Commonly attributed — not confirmed in an authoritative edition. Cited on Wikiquote to: Reminiscences of a Stock Operator (1923), Chapter IV, p. 51.
English (original)
There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!
— Edwin Lefèvre
More from Edwin Lefèvre
"the public never is independently responsive to news."
One of the most helpful things that any body can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world.
The game taught me the game.
A battle goes on in the stock market and the tape is your telescope. You can depend upon it seven out of ten cases.
A stock operator has to fight a lot of expensive enemies within himself.
When it comes to selling stocks, it is plain that nobody can sell unless somebody wants those stocks. If you operate on a large scale you will have to bear that in mind all the time.