Month: January 2020

Bruce Kovner

Technical analysis reflects the vote of the entire marketplace and, therefore, does pick up unusual behavior. By definition, anything that creates a new chart pattern is something unusual.

Bruce Kovner

They are strong, independent, and contrary in the extreme. They are able to take positions others are unwilling to take. They are disciplined enough to take the right size positions. A greedy trader always blows out.

Michael Marcus

As long as you stick to your own style, you get the good and bad in your own approach. When you try and incorporate someone else’s style, you often wind up with the worst of both styles.

Michael Marcus

That situation illustrates one of the principles we believed in–namely, that the big players, including governments, would always tip their hand. If we saw a surprise price move against us that we didn’t understand, we often got out and looked for the reason later.

Michael Marcus

The best trades are the ones in which you have all three things going for you: fundamentals, technicals, and market tone. First, the fundamentals should suggest that there is an imbalance of supply and demand, which could result in a major move. Second, the chart must show that the market is moving in the direction that the fundamentals suggest. Third, when news comes out, the market should act in a way that reflects the right psychological tone. For example, a bull market should shrug off bearish news and respond vigorously to bullish news.

Michael Marcus

I learned that if you shoot for what you want, you stand a much better chance of getting it because you care much more.

18. No ruler should put troops into the field merely to gratify his own spleen; no general should fight a battle simply out of pique.

If fighting is sure to result in victory, then you must fight, even though the ruler forbid it; if fighting will not result in victory, then you must not fight even at the ruler’s bidding.