5 Famous Quotes That Will Inspire You For Trading

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17 of the Best Trading Quotes of All-Time

Trading quotes can inspire you and remind you how you should be trading. These are my favorite quotes, I hope they inspire you too.

By: Hugh Kimura | Updated: March 11, 2020

Trading quotes (and inspirational quotes in general) are a funny thing…

In small doses, they can serve as fuel to propel us forward, especially when we are feeling discouraged. But when you get them all the time (ahem, like on some Instagram accounts) they can seem cliché.

So I didn’t want to barrage you with a million trading quotes. Only the ones that I really like and resonate with me.

I also give you a little background on each person who is credited with the quote. You might learn something new about some of these people…I know I did.

In addition, I only quote each person once. This made compiling this list much harder, but I think it also makes it much more interesting.

I’m sure you don’t want to get 17 quotes from Jesse Livermore ��

Hopefully you will really love one or two of them. If so, be sure to write them down and keep them visible during your trading day.

If you like this list of trading quotes, feel free to share it on Twitter by clicking below.

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Which one of these trading quotes is your favorite?

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Then I hope you go create some quotes of your own…

My Favorite Trading Quotes

1. Michael Marcus

“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.”

Background on Michael Marcus: He is primarily known for turning $700 into $80 million and was featured in the Market Wizards book. One of his biggest mentors was Ed Seykota.

2. Alexander Elder

“You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.”

Background on Alexander Elder: From his website…

“Dr. Elder was born in Leningrad and grew up in Estonia, where he entered medical school at the age of 16. At 23, while working as a ship’s doctor, he jumped a Soviet ship in Africa and received political asylum in the United States. He worked as a psychiatrist in New York City and taught at Columbia University.”

That’s also possibly the best opening of a book…ever. Yes, even better than A Tale of Two Cities.

3. Martin Schwartz

“A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.”

Background on Martin Schwartz: He is probably best known for winning the U.S. Investing Championship in 1984. He trades stocks, futures and options.

4. Nicolas Darvas

“I believe in analysis and not forecasting.”

Background on Nicolas Darvas: A dancer by training, but he taught himself to trade and made $2 million in the stock market. He is known for his “box theory” of technical analysis.

5. Van K. Tharp

“A peak performance trader is totally committed to being the best and doing whatever it takes to be the best. He feels totally responsible for whatever happens and thus can learn from mistakes. These people typically have a working business plan for trading because they treat trading as a business.”

Background on Van K. Tharp: One of the best trading psychologists. He has been helping traders create trading systems, overcome self-limiting beliefs and become the best version of themselves, since 1982.

6. Ed Seykota

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”

Background on Ed Seykota: In the 1970’s Ed pioneered the testing of mechanical trend following systems on punch card computers. He helps traders on his Trading Tribe website.

7. Paul Tudor Jones

“The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”

Background on Paul Tudor Jones: He is probably best known for his prediction of the 1987 Black Monday stock market crash, in which he tripled his money. He is the founder of the Robin Hood Foundation, a philanthropic organization, mainly backed by hedge fund operators.

8. William O’Neil

“What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.”

Background on William O’Neil: Famous for the CANSLIM method of investing in stocks. Founder of Investor’s Business Daily.

9. John Maynard Keynes

“Markets can remain irrational longer than you can remain solvent.”

Background on John Maynard Keynes: A famous British Economist who won and lost fortunes in speculation. Known for Keynesian Economics, where he believed that in an economic downturn, a government should borrow money to finance economic recovery.

10. Warren Buffet

“You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.”

Background on Warren Buffet: The “Oracle of Omaha” is known for value investing and is one of the richest men in the world.

11. John Paulson

“Those types of investments don’t come around very often.”

Background on John Paulson: His company made $15 billion on the subprime collapse. ‘Nuff said.

12. Randy McKay

“When I get hurt in the market, I get the hell out. It doesn’t matter at all where the market is trading. I just get out, because I believe that once you’re hurt in the market, your decisions are going to be far less objective than they are when you’re doing well… If you stick around when the market is severely against you, sooner or later they are going to carry you out.”

Background on Randy McKay: He was featured in The New Market Wizards. In 1972, he used his brother’s seat on the newly formed IMM and started trading with $3,000. The rest, as they say, is history.

13. George Soros

“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”

Background on George Soros: Known as the man who broke the Bank of England, he now dedicates his time and money to supporting progressive political causes.

14. Larry Hite

“Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.”

Background on Larry Hite: A hedge fund manager who helped pioneer computerized system trading, with Ed Seykota.

15. Bruce Kovner

“If you personalize losses, you can’t trade.”

Background on Bruce Kovner: He borrowed $3,000 on a credit card to trade soybean futures. That trade eventually went to $23,000. He is now estimated to be worth $5.3 billlion.

16. Victor Sperandeo

“The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.”

Background on Victor Sperandeo: Another trader who benefited from the 1987 stock market crash, reportedly making 300% on his money. Also known as “Trader Vic,” not to be confused with the tiki bars.

17. Sir John Templeton

“The four most dangerous words in investing are: This time it’s different.”

Background on Sir John Templeton: Investor and mutual fund pioneer, Templeton became a billionaire by pioneering the use of globally diversified mutual funds. He was one of the most generous philanthropists of all-time, giving away over $1 billion during his lifetime.

Conclusion

Whew, that was fun. Out of all of those quotes, the one from Alexader Elder is my favorite.

But who knows, that may change…

Now it’s your turn…what are some of your favorite trading or inspirational quotes of all-time? Or even better, what is a trading saying that you would want to be known for? Drop them in the comments below…

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Five Unforgettable Quotes From the World’s Biggest ETF Conference

The Biggest Worries in the ETF Industry

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Even the booming exchange-traded fund industry isn’t immune from the current market turmoil.

While ETFs had a banner year in 2020 in asset growth—taking in more money than mutual funds and hedge funds combined—a raft of worries took center stage at the ninth annual Inside ETFs conference in Hollywood, Fla., hosted by ETF.com.

While the more than 2,000 attendees spent most of the time soaking in useful information during breakout sessions on specific ETF topics, such as smart-beta strategies, fixed income tools, liquid alternatives, and ETF-trading techniques, the main stage featured the biggest and boldest speakers—many of whom voiced concerns about everything from the Federal Reserve and the global economy to issues overhanging the ETF industry.

Here are five colorful quotes from some of the more notable speakers, plus some accompanying snapshots of presenters’ slides, that are representative of the somewhat darker tone emitting from the conference this year.

‘What Are These People Doing?’

As said by Jeffrey Gundlach, chief executive officer of Doubleline Capital, in reference to the Fed, which he repeatedly criticized during a presentation called “Tick, Tick, Tick.” Gundlach, the manager of last year’s most successful new ETF launch, bashed the central bank for hiking benchmark interest rates in December.

He called the Fed “pathetic” and “frozen in their thinking” for not seeing how fragile the economy still is. Gundlach compared Yellen’s rate hike with Seattle Seahawks coach Pete Carroll’s call in Super Bowl XLIX to pass the ball at the end of the game–a move widely regarded as the worst call in Super Bowl history. In fact, the Fed was a common theme–and punching bag–at the conference.

‘Don’t Let Them Push Us Back Into the Darkness’

Dave Nadig, director of ETFs at FactSet Research Systems, on the recent rule proposals put forth by the U.S. Securities and Exchange Commission that could have a major effect on some ETFs. In a presentation called “The Battle for the Soul of the ETF Revolution,” Nadig–and Matt Hougan, CEO of conference organizer ETF.com–voiced concern over the recent SEC rule proposals on bond fund liquidity and derivatives use by funds.

Nadig, who may be the only human being to have actually read the proposals cover to cover (more than 1,000 pages), argued that the SEC may be well-intentioned, but its rules will nevertheless have unintended consequences for ETFs, such as stripping investors of some of their favorite tools and pushing them back into the darkness (darkness, at an ETF conference, meaning mutual funds). He also noted the irony that some of the most legitimately dangerous products, such as leveraged exchange-traded notes, would not actually be affected by the rules and could still harm unsuspecting investors.

‘We Really Are an Old Industry, Second Only to Wal-Mart Greeters’

Josh Brown, CEO of Ritholtz Wealth Management, in reference to financial advisers, whose average age is 50.9. Many advisers—who make up a large chunk of the conference attendees—are worried about the $30 trillion or so that will be passed down to robo-adviser-loving millennials from their parents. Brown pointed to a study that found 66 percent of millennials plan to leave their parent’s financial adviser when they inherit their wealth.

To address these worries, Brown gave a colorful presentation–complete with references to the Wu-Tang Clan and One Direction–on how he uses social media and his blog to attract new investors and engage with a younger audience. He said the bulk of his firm’s new clients come in through what his team is writing on the blog and social media. Brown humorously pointed out that the financial industry has struggled with how to effectively utilize social media outlets such as Twitter.

‘Everything Blows Up Every Seven Years’

Kevin O’Leary, featured on the ABC’s Shark Tank, was not talking about asset classes but rather about active managers. Active manager-bashing is always a popular theme at Inside ETFs, or any ETF conference, for that matter. But it was especially effective given O’Leary was drawing on personal experience as he used to invest all his own money in a variety of active managers but found they “blew up” every seven years or so.

O’Leary has been slowly switching all his money out of active management and into what he calls “hard-core, rules-based, emotionless investing.” He has turned these investing rules into a smart-beta ETF product line called O’Shares. O’Leary is also representative of the growing number of smaller shops entering the ETF industry, as well as the increasing number of celebrities joining the field.

‘A Pool Full of Beer May Be the Only Answer’

Marc Faber, publisher of the The Gloom, Boom & Doom Report and a big fan of gold ETFs, said he might fill a newly installed swimming pool with beer instead of water to deal with an economic outlook he describes as “so depressing.” He went so far as to say he doesn’t expect to see another bull market in his lifetime, adding that a massive increase in global debt via central bank policies will “contain” growth for years and years to come.

He spoke on the last day of the event and brought things full circle by going on a Gundlach-ian tirade against the Fed–and central bankers in general–referring to them as “people who have never worked a day in their lives.” Faber closed by saying he was going to leave the conference to get back to his beer pool and hang out with his new friend.

If the ETF conference is an indicator of the year to come, buckle up–it’s going to be a bumpy ride.

Eric Balchunas is an exchange-traded-fund analyst at Bloomberg. This piece was edited by Bloomberg News.

116 Quotes to Live By For a Better Life

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Quotes can spark our emotions in a way that can completely change our perspective of any situation. The quotes we’ve gathered below can be used for inspiration to kick start a project, as a pick me up if your life seems off-track, to mend a broken relationship, or to even reinvigorate your passion for an old hobby — whatever you’re needing to live a better life.

Benefit from these quotes by:

  1. Picking out specific quotes that resonate with you and write them down
  2. Re-reading the quotes you’ve written down and looking deeply to find the inner meaning
  3. Using these quotes as a theme for your next meditation sessions (if you haven’t started meditating, here’s how)
  4. Printing your list out to keep in your wallet or frame in your office for consistent inspiration

Do we have your undivided attention? Grab a pen and a piece of paper and start taking notes!

“Plant your garden and decorate your own soul, instead of waiting for someone to bring you flowers.” – Jose Luis Borges

“In the middle of every difficulty lies opportunity.” – Albert Einstein

“The trouble with not having a goal is that you can spend your life running up and down the field and never score.” – Bill Copeland

“If opportunity doesn’t knock, build a door.” – Milton Berle

“It is never too late to be what you might have been.” – George Eliot

“Don’t be pushed by your problems. Be led by your dreams.” – Ralph Waldo Emerson

“Breathe. Let go. And remind yourself that this very moment is the only one you know you have for sure.” – Oprah Winfrey

“When you can’t change the direction of the wind — adjust your sails.” – H. Jackson Brown

“May I never be complete. May I never be content. May I never be perfect.” – Chuck Palahniuk

“Don’t be afraid of failure, be afraid of not trying in the first place.” -Marie Forleo

“If you want it, become it.” – Mastin Kipp

“Eventually all things fall into place. Until then, laugh at the confusion, live for the moments, and know everything happens for a reason.” – Albert Schweitzer

“Do what you feel in your heart to be right, for you’ll be criticized anyway.” – Eleanor Roosevelt

“Remember that happiness is a way of travel, not a destination.” – Roy Goodman

“Life’s too mysterious to take too serious.” – Mary Engelbreit

“Your past does not equal your future.” – Tony Robbins

“Play keeps us vital and alive. It gives us an enthusiasm for life that is irreplaceable. Without it, life just doesn’t taste good.” -Lucia Capacchione

“Silence your critics. Ignore your haters. Delete your cynics.” – Robin Sharma

“Kind words can be short and easy to speak, but their echoes are truly endless.” – Mother Teresa

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