Profit based on other people’s recurrent mistakes, not loss on my recurrent mistakes

My biggest lesson learned in year 2015 is, I lost from my recurrent investment mistakes, I should have profit from other people’s mistakes

“Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. I think the clearest summing up of the whole thing was expressed by Thomas F. Woodlock when he declared: “The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.” – Edwin LeFevre

Reminiscences of a Stock Operator by Edwin LeFevre, Second Printing of the First Edition

Keep in mind, be patient, wait for the market dip, patience is a virtue!!!!

 

About Timeless Investor

My name is Samual Lau. I am a long-term value investor and a zealous disciple of Ben Graham. And I am a MBA graduated in May 2010 from Carnegie Mellon University. My concentrations are Finance, Strategy and Marketing.
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