Linear Gold (LRR)

[goldisking3000]

It never was my thinking that made the big money for me. It always was my sitting."
–Jesse Livermore, Reminiscences of a Stock Operator
Livermore suggests that making money, big money, you have to be right and sit tight. This is the kiss of death for most traders and investors. Often being right is doing something that the masses deem foolish, stupid, unpatriotic, you name it. To be right, investors face isolation, ridicule, and labels. This pressure is simply too much for most individuals. The drive for social acceptance from group is very strong in humans. It’s easier for the psyche to get slaughtered as a group than stand alone and be right. Even those that have the discipline to stand alone and be right, it is often very hard to sit tight long enough to make the really big money.