I think Richard Wyckoff, whom I've mentioned, was, in some respects, also an early pioneer in what is now called behavioral finance. When I used to write my last newsletter, I included three quotations in the heading. One was by Wyckoff: Listen to what the market is saying about others, not what others are saying about the market.
You know, nobody likes be thought of as plain old average.
As for myself, I recall a comment made by an upperclassman at the university: There is always somebody better than you and somebody worse than you.
So I guess that puts me somewhere in the middle.
Today, I understand the meaning behind the saying, you're not fortunate, you're blessed.
Today, I understand how blessed I am to be engaged in an activity I truly love.
Are there individuals with an above average ability to trade like a madman and make tons of money? Yeah, sure. But that percentage of total participants is exceedingly small.
Chuckle: some individual participants, after having lost their stake, sometimes more than once, determine for themselves, hey, I've paying some guy publishing a tout sheet hundreds of bucks a year. I can do the same thing. And so they do.
The weird thing about stocks, those with some substance to them anyway, can suddenly go bonkers and double, triple, etc after little interest for months, sometimes years.
If you buy stocks that no one wants of listed companies and are patient, sometimes the payoff can be surprising.
And someone comments, why didn't I do that? Well, to succeed, why don't be the someone who does that.
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