Trader Quotes

If you were half as funny as you think you are, you'd be twice as funny as you really are.

Tomorrow owes you the sum of your yesterdays. No more than that. And no less.

Everyone thinks that courage is about facing death without flinching. But almost anyone can do that. Almost anyone can hold their breath and not scream for as long as it takes to die. True courage is about facing life without flinching. I don't mean the times when the right path is hard, but glorious at the end. I'm talking about enduring the boredom, the messiness, and the inconvenience of doing what is right.

When you fear to fail, you fear something that has not happened yet. You predict your own failure, and by inaction, lock yourself into it.

I still believe in the Holy Trinity, except now it's Target, Trader Joe's, and IKEA.

Street traders were doing good business selling a paper toy which represented a pig, but if you put the paper together and unfolded it in a certain way it turned into Hitler’s face.

Look forward, not back. Correct your course and go on. You can't undo yesterday's journey.

That is the challenge Companion. To take what has happened to you and learn from it. Nothing is quite so destructive as pity, especially self-pity. No event in life is so terrible that one cannot rise above it.

Under the spreading chestnut tree I sold you and you sold me--

Do you not see how strange and wonderful that is? That all history balances on an affair of the human heart?

Look inside yourself for the answers - you're the only one who knows what's best for you. Everybody else is only guessing.

I do love Trader Joe’s,” I said, smiling at the bag. “Nothing like a grocery store that makes you have to visit another grocery store right after.

I never confuse the cost of something with its value

Love isn't just about feeling sure of the other person, knowing what he would give up for you. It's knowing with certainty what you are willing to surrender for his sake. Make no mistake; each partner gives up something. Individual dreams are surrendered for a shared one.

You mean that this is a matter of patriotism and traders aren't patriotic?" "Notoriously not. Pioneers never are.

For the weakest has but to try his strength to find it, and then he shall be strong.

One must plan for the future and anticipate the future without fearing the future.

It doesn't seem to matter what we think...The prince will come up here and look at us as if we're barrels in a trader's wagon. And if I'm salt pork and he doesn't care for salt pork, then there's nothing I can do.

One does not need the size of a dragon to have the soul of a dragon.

Strangers had small interest in hurting you. That was always done best by your own family and friends.

I saw a werewolf drinking a pina colada at Trader Vic's. His hair was perfect.

Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.

I've heard it said that there are men who read in books to convince themselves there is a God. I know not but man may so deform his works in the settlements, as to leave that which is so clear in the wilderness a matter of doubt among traders and priests.

You're not who he expected you to be; that doesn't mean you aren't somebody. Nor are you perfect. Stop using every mistake you make as an excuse to fail completely.

Somehow," she said coldly, "you have confused profitable and not profitable for right and wrong. I, however, have not.

The wise man takes the shortest path to peace with himself.’ Acceptance of what is, that is the shortest path.

Fighting and scars are part of a trader's overhead. But fighting is only useful when there's money at the end, and if I can get it without, so much the sweeter.

An Individualist is a man who lives for his own sake and by his own mind; he neither sacrifices himself to others nor sacrifices others to himself; he deals with men as a trader - not as a looter; as a producer - not as a Attila.

Too many folk, women and men, love the person they wish to be, as if by loving that person, or being loved by that person, they could attain the importance they long for.

Innocent?” He was incensed at her suggestion he was somehow responsible for this mess. “I’ve done nothing wrong, I intend nothing wrong. I am innocent!” “Half the evil in this world occurs while decent people stand by and do nothing wrong. It’s not enough to refrain from evil, Trell. People have to attempt to do right, even if they believe they cannot succeed.” “Even when it’s stupid to try?” he asked with savage sarcasm. “Especially then,” she replied sweetly. “That’s how it’s done, Trell. You break your heart against this stony world. You fling yourself at it, on the side of good, and you do not ask the cost. That’s how you do it.

What you are born to be, you will be, whether it be priest or sailor. So step up and be it. Let them do nothing to you. Be the one who shapes yourself. Be who you are, and eventually all will have to recognize who you are, whether they are willing to admit it or not.

Finding oneself and one's path is like waking up on a foggy day. Be patient, and presently the fog will clear and that which has always been there can be seen. The path is already there to follow

Well, you know this world isn't perfect.' 'No, you're wrong. This world IS perfect, people just come along and mess it up sometimes.

Open your eyes. This horrible mess is your life. There is no sense in waiting for it to get better. Stop putting it off and live it.

Pride is the recognition of the fact that you are your own highest value and, like all of man’s values, it has to be earned. His own happiness is man’s only moral purpose, but only his own virtue can achieve it…Life is the reward of virtue- and happiness is the goal and the reward of life. Happiness is a state of non-contradictory joy- a joy without penalty or guilt, a joy that does not clash with any of your values and does not work for your won destruction, not the joy of escaping from your mind, but using your mind’s fullest power. Happiness is possible only to a rational man, the man who desires nothing but rational goals, seek nothing but rational values and finds his joy in nothing bu rational actions. The symbol of all relationships among such men, the moral symbol of respect for human beings, is the trade…A trader is a man who earns what he gets and does not give or take the undeserved.

Many will rant and rave against the garment fate has woven for them, but they pick it up and don it all the same, and most wear it to the end of their days. You... you would rather go naked into the storm.

My father had always told me that seabirds were the souls of lost traders. To turn them away or not give them a place to land or nest was bad luck.

When you borrow trouble against what might be, you neglect the moment you have now to enjoy. The man who worries about what will next be happening to him loses this moment in dread of the next, and poisons the next with pre-judgment.

As long as you believe it is impossible, you close your mind to understanding it.

Don't go mooning after the stars, when the wide sea is all around you. It's a sky of its own, you know.

Do you do this because you live such short lives? Tell yourselves wild tales of what might happen tomorrow, and feel all the feelings of events that will never happen? Perhaps to make up for the pasts you cannot recall, you invent futures that will not exist.

We don’t talk about it. There’s never so much as a knowing look. We sit here in silence, eating our lunch. But I know we are all here for the same reason. We’re all searching for a piece of home, or a piece of ourselves. We look for a taste of it in the food we order and the ingredients we buy. Then we separate. We bring the haul back to our dorm rooms or our suburban kitchens, and we re-create the dish that couldn’t be made without our journey. What we’re looking for isn’t available at a Trader Joe’s. H Mart is where your people gather under one odorous roof, full of faith that they’ll find something they can’t find anywhere else.

It is the nature of humans that we tend to pass our pain along. As if we could get rid of it by inflicting an equal hurt on someone else.

A manner of speaking becomes a manner of thinking.

Only my pain is more silent than my anger.

People who are poor think like traders, but the dynamics are quite different. Unlike traders, the poor are not indifferent to the differences between gaining and giving up. Their problem is that all their choices are between losses. Money that is spent on one good is the loss of another good that could have been purchased instead. For the poor, costs are losses.

The winner is just the loser who never gave up!

... finally realizing that life was to be lived, rather than hoarded against an unseen tomorrow.

Markets are actually set up so that most traders must lose money

If we didn't execute bankers and rogue traders found guilty of financial mischief, it might give them the clear signal that it's actually okay, and then where would we be?

From now on, you need to treat trading on key support/resistance your second nature. It is the secret of all successful traders in the world.

Silent," the carved wizardwood on his wrist breathed. "Silent as a blinded ship, floating hull-up in the sea. Silent as a scream underwater.

Refuse the anxiety. When you borrow trouble against what might be, you neglect the moment you have now to enjoy. The man who worries about what will next be happening to him loses this moment in dread of the next, and poisons the next with pre-judgment.

Why can't people love one another and still remain free?" Althea demanded suddenly. Amber paused to rub her eyes, then tug thoughtfully at her earring. "One can love that way," she conceded regretfully. "But the price on that kind of love may be the highest of all." She strung her words together as carefully as she strung her beads. "To love another person like that, you have to admit that his life is as important as yours. Harder still, you have to admit to yourself that perhaps he has needs you cannot fill, and that you have tasks that will take you far away from him. It costs loneliness and longing and doubt and...

Sooner or later you'll hear what your heart has always been telling you: stop trying to be who you think you should be - become who you are.

Instead, we must focus on our hopes. If we cannot anchor ourselves in a belief that we will succeed, we have already been defeated.

Blessed is the mind too small for doubt.

Stock Traders are always trying to time the market. But an investor tends to be thinking bigger, more broadly, and more holistically.

Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.

Your mission as a trader is to filter only the very best trade setups, which is what successful traders often do.

Warren Buffett is one of the best learning machines on this earth. The turtles which outrun the hares are learning machines. If you stop learning in this world, the world rushes right by you.

It doesn't work that way. Silencing memories does not make them stop existing. Events cannot be undone by forgetting them.

It is common to find that two traders both think their counterparts are idiotically overpaying: that is the beauty of Ricardo’s magic trick.

There is no such thing as an extraordinary coincidence. There is only destiny.

Seven Cities was an ancient civilization, steeped in the power of antiquity, where Ascendants once walked on every trader track, every footpath, every lost road between forgotten places. It was said the sands hoarded power within their sussurating currents, that every stone had soaked up sorcery like blood, and that beneath every city lay the ruins of countless other cities, older cities, cities that went back to the First Empire itself. It was said each city rose on the backs of ghosts, the substance of spirits thick like layers of crushed bone; that each city forever wept beneath the streets, forever laughed, shouted, hawked wares and bartered and prayed and drew first breaths that brought life and the last breaths that announced death. Beneath the streets there were dreams, wisdom, foolishness, fears, rage, grief, lust and love and bitter hatred.

A Skalan trader tried to tell me the streets of his cities were paved with gold," Alec went on. "I didn't believe him, though. He was the one who tried to buy me from father. I was only eight or nine. I could never figure out what he wanted me for." "Really?" Seregil lifted a noncommittal eyebrow.

What does he know of the half-starved wretches toiling from dawn till dark on the plantations? of mothers shrieking for their children, torn from their arms by slave traders? of young girls dragged down into moral filth? of pools of blood around the whipping post? of hounds trained to tear human flesh?

Tomorrow's leaders will not lead dictating from the front, nor pushing from the back. They will lead from the centre - from the heart

That’s how it’s done, Trell. You break your heart against this stony world. You fling yourself at it, on the side of good, and you do not ask the cost. That’s how you do it.

Perhaps the most chaotic of Divisions Ke Hui Feng 第一 Ψ visited was Recycling. First, it was mammoth, so big most of her tour was spent aboard a drone. Thousands of Dazhong used the 401 thoroughfares from both east and west, the 427 from the south and the 400 from the north to bring their loads of recyclables from the MASS to the enormous MEG Recycling Centre. The roadways might be in ruins outside the MEG boundaries, jagged fragments of pavement between cavernous potholes and trails made by traders, but within the MEG the wide lanes had been cleared and covered with recycled rubber. They were smooth and divided, one lane in—one lane out, between hundred-metre high foamstone walls on either side. No one from the MASS would ever get into the MEG illegally; at least, that was how it seemed. Only those with proper credentials could enter the massive gates: MASS traders, or trading companies, who specialized as middlemen between the gatherers and the Recycling Centre. Not far outside the gates the MASS traders had rebuilt ancient warehouses in which they received goods, stored, and sorted them, then brought them, usually by land freighters, down the ingress roads to meet MEG approved Di sān overseers and, of course, decontaminated Dazhong who further sorted the goods.

We aren't fated to survive, then at least let us fight it to the end. Let it be fate that extinguishes us, not our own lack of heart.

The expectation that you bring with you in trading is often the greatest obstacle you will encounter.

What the hell was an acquisitions consultant? An arms dealer? A white slave trader?

A wise guy doesn't spill his ignorance. He uses his eyes and ears and keeps his trap shut—

The best job a concert pianist can get nowadays is trader for Citibank. It pays very well.

In order to remain undead, I must steal the life force of someone whose fate matters less to me than my own.' I've always supposed that Wall Street traders utter essentially the same sentence.

Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness... Paradoxically (and as an unintended consequence) your trading performance will improve significantly.

I’m not studying the heroes who lead navies—and armies—and win wars. I’m studying ordinary people who you wouldn’t expect to be heroic, but who, when there’s a crisis, show extraordinary bravery and self-sacrifice. Like Jenna Geidel, who gave her life vaccinating people during the Pandemic. And the fishermen and retired boat owners and weekend sailors who rescued the British Army from Dunkirk. And Wells Crowther, the twenty-four-year-old equities trader who worked in the World Trade Center. When it was hit by terrorists, he could have gotten out, but instead he went back and saved ten people, and died. I’m going to observe six different sets of heroes in six different situations to try to determine what qualities they have in common.

Being wrong is acceptable, but staying wrong is totally unacceptable.

Do not pull back from the pain and imagine that makes you strong. Look at it, you dolt! It is trying to tell you what is wrong so you can fix it.

Once she would have found him mysterious and alluring. She had grown wiser. Dangerous men were neither romantic nor exotic; they were men who could hurt you.

No being gets to decide what his life is 'supposed to be.' ” She lifted her eyes and her gaze stabbed him. “Be a man. Discover where you are now, and go on from there, making the best of things. Accept your life, and you might survive it. If you hold back from it, insisting this is not your life, not where you are meant to be, life will pass you by. You may not die from such foolishness, but you might as well be dead for all the good your life will do you or anyone else.

In spiritual issues--(by "spiritual" I mean: "pertaining to man's consciousness")--a trader is a man who does not seek to be loved for his weaknesses or flaws, only for his virtues, and who does not grant his love to the weaknesses or the flaws of others, only to their virtues.

What made it so galling to me, the outsider, was that of the large sums paid by the various mining companies, brokers and traders, only a tiny fraction ever reached the local economy. The vast bulk was lost in bribes demanded by corrupt officials at all levels. Lubumbashi’s cobalt bonanza brought home to me how money alone will not solve Africa’s problems. Until the Congo’s economy is underpinned by the rule of law and transparency, it will remain stagnant, chaotic and unproductive.

When the mother was delivered into the trader's hands, she said, "You promised to treat me well." To which he replied, "You have let your tongue run too far; damn you!" She had forgotten that it was a crime to tell who was the father of her child.

Kyle gave her a couple of little pats on the back to let her know that one, he wasn’t good at hugs, and two, this hug was going on far too long for a bad hugger to manage.

Good habits are the basic tools that will determine whether you are a tortoise or hare in life!

I can take all my pasts, keep them and determine my own future. I don't have to be what anyone made me, Brashen. I can be Paragon.

In politics, appearance matters more than truth.

Since then, she had wondered if it were strength or a sort of madness that let her pretend she was normal.

Actually, the best traders have no ego.

An astute trader aims to enter the market during quiet times and take profits during wild times.

You must really want to win with all of your heart! Plan your race; do not ever get side tracked. Focus on your goal - “the finishing line”!

Don't ever make the mistake of believing that market success has to come to you fast. Trade small, stay in the game, persist, and eventually, you'll reach a satisfying level of proficiency.

A society must always aim for balance. It needs intellectuals, it needs warriors, it needs traders, it needs artists, and it needs skilled workers. If it empowers one group too much or another too little, it is headed for chaos.

Even utopias need a tax clause. For example, we could start with a transactions tax to rein in the financial industry. Back in 1970, American stocks were still held for an average of five years; forty years later, it’s a mere five days.21 If we imposed a transactions tax – where you would have to pay a fee each time you buy or sell a stock – those high-frequency traders who contribute almost nothing of social value would no longer profit from split-second buying and selling of financial assets. In

Michael Jordan didn’t become a great basketball player because he wanted to do product endorsements. Van Gogh didn’t become a great painter because he dreamed that one day his paintings would sell for $50 million.

You are but a hard turd in the ass of my journey.

The battle between bankers and traders is the closest thing to class warfare on Wall Street. Investment banking was esteemed as an art, while trading was more like a sport, something that required skill, but not necessarily brains or creativity.

New York is the concentrate of art and commerce and sport and religion and entertainment and finance, bringing to a single compact arena the gladiator, the evangelist, the promoter, the actor, the trader and the merchant. No one should come to New York to live unless he is willing to be lucky.

We were speaking of people living their dreams, and I said that few do, and even fewer enjoy the experience. For too many, when they get their dream, they discover it is not what they wanted. Or the dream is bigger than their abilities, and all ends in bitterness.

You have a wild young heart. Right now, it is like a caged bird that batters itself against the bars. To struggle harder will only hurt you more. Wait, be patient. Your time will come to fly. And when it does, you must be strong, not bloodied and weary.

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.

Over the stern, I could see the clouds rolling over the sea towards us. Hungry. I closed my eyes and drew the humid air into my chest. I'd spent my childhood in the face of storms just like her, many of them angrier than this one. It was the reason only the most daring traders sailed the Narrows. And even though I could feel her power in every bone, every muscle, there was something deep inside of me that opened its eyes from sleep when I felt it. It was terrifying, but familiar. As beautiful as it was deadly.

History cannot be explained deterministically and it cannot be predicted because it is chaotic. So many forces are at work and their interactions are so complex that extremely small variations in the strength of the forces and the way they interact produce huge differences in outcomes. Not only that, but history is what is called a ‘level two’ chaotic system. Chaotic systems come in two shapes. Level one chaos is chaos that does not react to predictions about it. The weather, for example, is a level one chaotic system. Though it is influenced by myriad factors, we can build computer models that take more and more of them into consideration, and produce better and better weather forecasts. Level two chaos is chaos that reacts to predictions about it, and therefore can never be predicted accurately. Markets, for example, are a level two chaotic system. What will happen if we develop a computer program that forecasts with 100 per cent accuracy the price of oil tomorrow? The price of oil will immediately react to the forecast, which would consequently fail to materialise. If the current price of oil is $90 a barrel, and the infallible computer program predicts that tomorrow it will be $100, traders will rush to buy oil so that they can profit from the predicted price rise. As a result, the price will shoot up to $100 a barrel today rather than tomorrow. Then what will happen tomorrow? Nobody knows.

This terrible event – whatever it was – is over and done. Cling to it and let it shape you and you are doomed to live it forever. You are granting it power over you. Set it aside, and shape your future as you wish it to be, in spite of what happened to you. Then you have seized control of it.

Politics had seemed to become, even well before the age of Trump, a mortal affair. It was now zero-sum: When one side profited, another lost. One side’s victory was another’s death. The old notion that politics was a trader’s game, an understanding that somebody else had something you wanted—a vote, goodwill, old-fashioned patronage—and that in the end the only issue was cost, had gone out of fashion. Now it was a battle between good and evil.

If it were your Harry, mother, or your Willie, that were going to be torn from you by a brutal trader, tomorrow morning,—if you had seen the man, and heard that the papers were signed and delivered, and you had only from twelve o'clock till morning to make good your escape,—how fast could you walk?

At the age of 30, you should already know yourself and what you want from life!

The man who worries about what will next be happening to him loses this moment in dread of the next, and poisons the next with pre-judgement.

It is one thing doing what you love for a living. It is another thing doing what you love with love

Sa'Adar's eyes went wide. "You're mad." "Scarcely. Why do people always accuse me of that when I'm arranging things to my liking instead of theirs?

Here we do not believe in wasting time simply for the purpose of impressing others.

Stop using every mistake you make as an excuse to fail completely.

You can't play in shit and not get some on you.

The mind is a fascinating instrument that can make or break you.

In order to succeed, you first have to be willing to experience failure.

Long or short, if you worry about every step of a journey, you will divide it endlessly into pieces, any one of which may defeat you. Look only to the end.

Thing that people forget is, we all die, right? We all die and no matter what we do, the universe is going to go on, perfectly happy without us.

No one can have so little that someone else can find nothing to envy. Poverty and simplicity were not shields from the greed of others. If you had nothing left to steal, they'd take your body and enslave it.

Warren Buffett chuckled and said to me "I hope it's not my bad habits" Good Habits once established are just as hard to break as bad habits and bad habits are easier to abandon today than tomorrow. So what are you going to do about it?

I began to understand the security of the covenant of grace, and to expect to be preserved, not by my own power and holiness, but by the mighty power and promise of God, through faith in an unchangeable Savior.

Of course, the fact that a single biblical text can mean many things doesn’t mean it can mean anything. Slave traders justified the exploitation of black people by claiming the curse on Noah’s son Ham rendered all Africans subhuman. Many Puritans and pioneers appealed to the stories of Joshua’s conquest of Canaan to support attacks on indigenous populations. More recently, I’ve heard Christians shrug off sins committed by American politicians because King David assaulted women too. Anytime the Bible is used to justify the oppression and exploitation of others, we have strayed far from the God who brought the people of Israel out of Egypt, “out of the land of slavery” (Exodus 20:2).

You want a mate who will follow your dream. You don't want to give up your own ambitions to make someone else's life possible.' 'I supposed that's true,' Althea admitted reluctantly. An instant later she demanded, 'Why is that so wrong?' 'It isn't,' Amber assured her, A moment later she added wickedly, 'As long as you're male.

That part of your life is over. Set it aside as something you have finished. Complete or no, it is done with you. No being gets to decide what his life is "supposed to be"...'Be a man. Discover where you are now, and go on from there, making the best of things. Accept your life, and you might survive it. If you hold back from it, insisting this is not your life, not where you are meant to be, life will pass you by. You may not die from such foolishness, but you might as well be dead for all the good your life will do you or anyone else.

I think there is in the heart of a man a place made for wonder. It sleeps inside, awaiting fulfillment. All one’s life, one gathers treasures to fill it. Sometimes they are tiny glistening jewels: a flower blooming in the shelter of a fallen tree, the arch of a small child’s brow combined with the curve of her cheek. Sometimes, however, a trove falls into your hands all at once, as if some greedy pirate’s chest spilled before an unsuspecting beholder. Such were the dragons on the wing.

I sleep like an old woman now, she thought to herself. In fits and starts. It isn’t sleeping and it isn’t waking and it isn’t rest.

The right word at the right time will unlock the door to treasures - the wrong one will close it forever

It was right, what they said: Enlightenment was merely the truth at the correct time.

Debt is a four letter word and means a four word sentence - Be Prepared for Trouble.

But that is not true for all folk. Some folk are meant to argue with fate. And win.

A quiet mind is able to hear intuition over fear.

When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.

You earn your future, Malta Vestrit." The bead-maker cocked her head at her. "What does tomorrow owe you?" "Tomorrow owes me?" Malta repeated in confusion. "Tomorrow owes you the sum of your yesterdays. No more than that." Amber looked out to sea again. "And no less. Sometimes folk wish tomorrow did not pay them off so completely.

Trading is not the same as investing. Trading includes a lot of fear, lack, and scarcity thinking. Traders aim to buy low and sell high in the quickest turnaround time possible, always fearful of potential outcomes and always needing to incessantly monitor the status of things and micromanage results. However, Investing includes a lot of faith, vision, trust, and endurance. Investors look at larger societal patterns and systems. Investors have wealth consciousness and they expect to earn exponentially larger profits over a longer timeframe.

Do you begrudge me that I am who I truly am? Should I pretend otherwise for the sake of pleasing you? If I did, it would be a lie. Would you rather love a lie than know me as I truly am?

She wears a freedom ring in one ear, you know, the earring that Chalcedean freed-slaves must purchase and wear to prove they have been granted their freedom. I asked her once if she had bought her freedom, or if it had belonged to her mother. She was quiet for a time, and then said it was a gift from her one true love.

Simons and his team are among the most secretive traders Wall Street has encountered, loath to drop even a hint of how they’d conquered financial markets, lest a competitor seize on any clue. Employees avoid media appearances and steer clear of industry conferences and most public gatherings. Simons once quoted Benjamin, the donkey in Animal Farm , to explain his attitude: “‘God gave me a tail to keep off the flies. But I’d rather have had no tail and no flies.’ That’s kind of the way I feel about publicity.

Love isn't just about feeling sure of the other person, knowing what he would give up for you. It's knowing with certainty what you are willing to surrender for his sake. Make no mistake; each partner gives up something. Individual dreams are surrendered for a shared one. In some marriages, one partner gives up almost everything she once thought she wanted. But it's not always the woman who does so. Such sacrifice is not shameful. It's love. If you think the man is worth it, it works.

The trader trusts his fortune to the sea and takes his gains,      The warrior, for his deeds, is girt with gold; The wily sycophant lies drunk on purple counterpanes,      Young wives must pay debauchees or they're cold. But solitary, shivering, in tatters Genius stands      Invoking a neglected art, for succor at its hands.

There was always something to be learned from any experience, no matter how horrendous. As long as a man kept sight of that, his spirit could prevail against anything. It was only when one gave in and believed the universe to be nothing more than a chaotic collection of unfortunate or cruel events that one’s spirit could be crushed.

If it were your Harry, mother, or your Willie, that were going to be torn from you by a brutal trader, tomorrow morning,—if you had seen the man, and heard that the papers were signed and delivered, and you had only from twelve o'clock till morning to make good your escape,—how fast could you walk? How many miles could you make in those few brief hours, with the darling at your bosom,—the little sleepy head on your shoulder,—the small, soft arms trustingly holding on to your neck?

Nothing stays forever, nobody does rather. All the things, people will leave you one fine day and you’ll be a wanderer in solitude again. You’ll moan again silently through the process of decaying. All your richness or poorness was never really of worth. When you were born, you were dead, respiring to cease. You’re a trader, exchanging everything!

all the land our forefathers had was a little strip of country, here between the mountains and the ocean. All the way from here west was Indian country, and Spanish and French and English country. It was farmers that took all that country and made it America.” “How?” Almanzo asked. “Well, son, the Spaniards were soldiers, and high-and-mighty gentlemen that only wanted gold. And the French were fur-traders, wanting to make quick money. And England was busy fighting wars. But we were farmers, son; we wanted the land. It was farmers that went over the mountains, and cleared the land, and settled it, and farmed it, and hung on to their farms.

All I ever wanted to do was live my own life. And I’m having damn little success at that.” p. 250: Brashen Trell and Amber

Make the calls. Maybe they won’t talk to you, but I guarantee that if you don’t call, they won’t talk to you.

Be now what you must be to succeed at the end of your journey, and when the end comes, you will find it is just another beginning.’ Althea

To sate your need without love is theft

Housework was comforting. In cleaning and restoring a room, one could assert control. One could even pretend, briefly, that life could be tidied the same way.

That no man can truly imagine being happy and that's why happiness isn't for sale here.

But if she let go of her anger, all that would remain was grief and pain. Anger was easier. Anger could be focused outward. Grief corroded from within.

Changes were the essence of life; one should not dread change.

Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.

Until you are clear nothing will be. The moment you are clear everything will be.

Everybody’s got to make a buck—the trick is, either find something you like to do, or do something to pay the rent that doesn’t take too much out of you. Capisce?

That most ancient of magics, the binding of a man by the use of his name, gripped him.

Intellectually, what is stimulating to a young man is a problem of obvious practical importance. A young man learning economics, for example, ought to hear lectures from individualists and socialists, protectionists and free-traders, inflationists and believers in the gold standard. He ought to be encouraged to read the best books of the various schools, as recommended by those who believe in them. This would teach him to weigh arguments and evidence, to know that no pinion is certainly right, and to judge men by their quality rather than by their consonance with preconceptions.

If the divine is also female, and the female also divine, then she understands that woman is more than mother, more than daughter, more than wife. Those are the facets of a full life, but no single facet defines the jewel.

Such a storm of emotions as humans can evoke, all on the basis of imagination,” the dragon observed condescendingly. In a more reflective voice she asked, “Do you do this because you live such short lives? Tell yourselves wild tales of what might happen tomorrow, and feel all the feelings of events that will never happen? Perhaps to make up for the pasts you cannot recall, you invent futures that will not exist.

Many amateurs believe that plants and animals reproduce on a one-way route toward perfection. Translating the idea in social terms, they believe that companies and organizations are, thanks to competition (and the discipline of the quarterly report), irreversibly heading toward betterment. The strongest will survive; the weakest will become extinct. As to investors and traders, they believe that by letting them compete, the best will prosper and the worst will go learn a new craft (like pumping gas or, sometimes, dentistry). Things are not as simple as that. We will ignore the basic misuse of Darwinian ideas in the fact that organizations do not reproduce like living members of nature—Darwinian ideas are about reproductive fitness, not about survival.

Most traders have absolutely no concept of what it means to be a risk-taker in the way a successful trader thinks about risk. The best traders not only take the risk, they have also learned to accept and embrace that risk. There is a huge psychological gap between assuming you are a risk-taker because you put on trades and fully accepting the risks inherent in each trade. When you fully accept the risks, it will have profound implications on your bottom-line performance.

Who loves you or who you love is not as significant as who you are. Too many folk, women and men, love the person they wish to be, as if by loving that person, or being loved by that person, they could attain the importance they long for.

Privilege implies exclusion from privilege, just as advantage implies disadvantage," Celine went on. "In the same mathematically reciprocal way, profit implies loss. If you and I exchange equal goods, that is trade: neither of us profits and neither of us loses. But if we exchange unequal goods, one of us profits and the other loses. Mathematically. Certainly. Now, such mathematically unequal exchanges will always occur because some traders will be shrewder than others. But in total freedom—in anarchy—such unequal exchanges will be sporadic and irregular. A phenomenon of unpredictable periodicity, mathematically speaking. Now look about you, professor—raise your nose from your great books and survey the actual world as it is—and you will not observe such unpredictable functions. You will observe, instead, a mathematically smooth function, a steady profit accruing to one group and an equally steady loss accumulating for all others. Why is this, professor? Because the system is not free or random, any mathematician would tell you a priori. Well, then, where is the determining function, the factor that controls the other variables? You have named it yourself, or Mr. Adler has: the Great Tradition. Privilege, I prefer to call it. When A meets B in the marketplace, they do not bargain as equals. A bargains from a position of privilege; hence, he always profits and B always loses. There is no more Free Market here than there is on the other side of the Iron Curtain. The privileges, or Private Laws—the rules of the game, as promulgated by the Politburo and the General Congress of the Communist Party on that side and by the U.S. government and the Federal Reserve Board on this side—are slightly different; that's all. And it is this that is threatened by anarchists, and by the repressed anarchist in each of us," he concluded, strongly emphasizing the last clause, staring at Drake, not at the professor.

To learn that a man can make foolish plays for no reason whatever was a valuable lesson. It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind. It has always seemed to me, however, that I might have learned my lesson quite as well if the cost had been only one million. But Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill, knowing you have to pay it, no matter what the amount may be.

As the years passed, new myths arose to explain the mysterious objects the strangers brought from the land of the dead. A nineteenth-century missionary recorded, for example, an African explanation of what happened when captains descended into the holds of their ships to fetch trading goods like cloth. The Africans believed that these goods came not from the ship itself but from a hole that led into the ocean. Sea sprites weave this cloth in an "oceanic factory, and, whenever we need cloth, the captain ... goes to this hole and rings a bell." The sea sprites hand him up their cloth, and the captain "then throws in, as payment, a few dead bodies of black people he has bought from those bad native traders who have bewitched their people and sold them to the white men." The myth was not so far from reality. For what was slavery in the American South, after all, but a system for transforming the labor of black bodies, via cotton plantations, into cloth?

Something clamped tight inside her suddenly eased. He had been right. She did not have to grip her pain. She could let it go. The memory was still there. It had not vanished, but it had changed. It was a memory, a thing from her past. This wound could close and heal. The injury done to her was over. She did not have to keep it as a part of herself. She could allow herself to heal. Her tears were diluted in the rain that ran down her face.

The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are 'ronin' (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.

In particular, the virtues and ambitions called forth by war are unlikely to find expression in liberal democracies. There will be plenty of metaphorical wars—corporate lawyers specializing in hostile takeovers who will think of themselves as sharks or gunslingers, and bond traders who imagine, as in Tom Wolfe’s novel The Bonfire of the Vanities, that they are “masters of the universe.” (They will believe this, however, only in bull markets.) But as they sink into the soft leather of their BMWs, they will know somewhere in the back of their minds that there have been real gunslingers and masters in the world, who would feel contempt for the petty virtues required to become rich or famous in modern America. How long megalothymia will be satisfied with metaphorical wars and symbolic victories is an open question. One suspects that some people will not be satisfied until they prove themselves by that very act that constituted their humanness at the beginning of history: they will want to risk their lives in a violent battle, and thereby prove beyond any shadow of a doubt to themselves and to their fellows that they are free. They will deliberately seek discomfort and sacrifice, because the pain will be the only way they have of proving definitively that they can think well of themselves, that they remain human beings.

I had no mind then for anything except Sebastian, and I saw him already as being threatened, though I did not yet know how black was the threat. His constant, despairing prayer was to be let alone. By the blue waters and rustling palm of his own mind he was happy and harmless as a Polynesian; only when the big ship dropped anchor beyond the coral reef, and the cutter beached in the lagoon, and, up the golden slope that had never known the print of a boot there trod the grim invasion of trader, administrator, missionary and tourist – only then was it time to disinter the archaic weapons of the tribe and sound the drums in the hills; or, more easily, to turn from the sunlit door and lie alone in the darkness, where the impotent, painted deities paraded the walls in vain, and cough his heart out among the rum bottles.

if something made a man feel bad then he must determine what about it troubled him, and eliminate that. Simply to suffer the discomforts of guilt did not indicate a man had improved himself, only that he suspected he harbored a fault.

Making money in the markets is tough. The brilliant trader and investor Bernard Baruch put it well when he said, “If you are ready to give up everything else and study the whole history and background of the market and all principal companies whose stocks are on the board as carefully as a medical student studies anatomy—if you can do all that and in addition you have the cool nerves of a gambler, the sixth sense of a clairvoyant and the courage of a lion, you have a ghost of a chance.

Be content with you own life, my friend, and live it well. Let others decide for themselves what path they will follow.' She frowned up at him. 'Even when you see, with absolute clarity, that is wrong for them? That they hurt themselves?' 'Perhaps people have a right to their pain,' he hazarded. Reluctantly he added, 'Perhaps they even need it.

I can see that you go through life athwart it. You see the flow of events, you are able to tell how you could most easily fit yourself into it. But you dare to oppose it. And why? Simply because you look at it and say, 'this fate does not suit me. I will not allow it to befall me.'" Amber shook her head, but her small smile made it an affirmation. "I have always admired people who can do that. So few do. Many, of course, will rant and rave against the garment fate has woven for them, but they pick it up and on it all the same, and most wear it to the end of their days. You... you would rather go naked into the storm.

Be a man. Discover where you are now, and go on from there, making the best of things. Accept your life, and you might survive it. If you hold back from it, insisting this is not your life, not where you are meant to be, life will pass you by. You may not die from such foolishness, but you might as well be dead for all the good your life will do you or anyone else.

Fate rushes down upon us! The time drags and the days plod past, lulling us into thinking that the doom we fear will always so delay. Then, abruptly, the dark days we have all predicted are upon us, and the time when we could have turned dire fate aside has passed. How old must I be before I learn? There is no time; there is never any time. Tomorrow may never come, but todays are linked inexorably in a chain, and now is always the only time we have to divert disaster.

Suppose time is a circle, bending back on itself. The world repeats itself, precisely, endlessly. For the most part, people do not know they will live their lives over. Traders do not know that they will make the same bargain again. Politicians do not know they will shout from the same lectern an infinite number of times in the cycle of time. Parents treasure the first laugh from their child as if they will not hear it again. Lovers making love the first time undress shyly, show surprise at the supple thigh, the fragile nipple. How would they know that each secret glimpse, each touch will be repeated again and again and again, exactly as before?

On his first parade the sergeant-major exclaimed that he couldn't make out the shape of Arthur's head because there was so much hair on it, and Arthur jocularly agreed to get it cut, intending to forget about it until the fifteen days was over, which he did. 'You're a soldier now, not a Teddy-boy,' the sergeant-major said, but Arthur knew he was wrong in either case. He was nothing at all when people tried to tell him what he was. Not even his own name was enough, though it might be on on his pay-book. What am I? he wondered. A six-foot pit-prop that wants a pint of ale. That's what I am. And if any knowing bastard says that's what I am, I'm a dynamite-dealer, Sten-gun seller, hundred-ton tank trader, a capstan-lathe operator waiting to blow the army to Kingdom Cum. I'm me and nobody else; and what people think I am or say I am, that's what I'm not, because they don't know a bloody thing about me.

I don't think I can stand it much longer,” he warned her. “Something will have to give way. And I fear it will be me… I've just been living from day to day. Waiting for something or someone else to change the situation… I think I need to make a real decision. I believe I need to take action on my own.

Tis open before your eyes," returned the scout; "and he who knows it is not a niggard of its use. I have heard it said that there are men who read in books to convince themselves there is a God. I know not but man may deform his works in the settlement, as to leave that which is so clear in the wilderness a matter of doubt among traders and priests. If any such there be, and he will follow me from sun to sun, through the windings of the forest, he shall see enough to teach him that he is a fool, and the greatest of his folly lies in striving to rise to the level of One he can never equal, be it in goodness, or be it in power.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.

Half the evil in this world occurs while decent people stand by and do nothing wrong. It’s not enough to refrain from evil, Trell. People have to attempt to do right, even if they believe they cannot succeed.” “Even when it’s stupid to try?” he asked with savage sarcasm. “Especially then,” she replied sweetly. “That’s how it’s done, Trell. You break your heart against this stony world. You fling yourself at it, on the side of good, and you do not ask the cost. That’s how you do it.

The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator’s primary interest lies in anticipating and profiting from market fluctuations. The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell. It is far from certain that the typical investor should regularly hold off buying until low market levels appear, because this may involve a long wait, very likely the loss of income, and the possible missing of investment opportunities. On the whole it may be better for the investor to do his stock buying whenever he has money to put in stocks, except when the general market level is much higher than can be justified by well-established standards of value. If he wants to be shrewd he can look for the ever-present bargain opportunities in individual securities. Aside from forecasting the movements of the general market, much effort and ability are directed on Wall Street toward selecting stocks or industrial groups that in matter of price will “do better” than the rest over a fairly short period in the future. Logical as this endeavor may seem, we do not believe it is suited to the needs or temperament of the true investor—particularly since he would be competing with a large number of stock-market traders and first-class financial analysts who are trying to do the same thing. As in all other activities that emphasize price movements first and underlying values second, the work of many intelligent minds constantly engaged in this field tends to be self-neutralizing and self-defeating over the years. The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored. He should never buy a stock because it has gone up or sell one because it has gone down. He would not be far wrong if this motto read more simply: “Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.” An

Why not break free now, and make Bingtown a place where folk begin anew, all men standing on an equal footing?" "And all women, too." She must be Sparse's daughter, thought Keffria. Even her voice echoed his in tone. Devouchet looked at her in surprise. "It was but a manner of speaking, Ekke," he said mildly. "A manner of speaking becomes a manner of thinking.

Or think of a decent young citizen in a toga--perhaps too much dice, you know--coming out here in the train of some prefect, or tax-gatherer, or trader even, to mend his fortunes. Land in a swamp, march through the woods, and in some inland post feel the savagery, the utter savagery, had closed round him--all that mysterious life of the wilderness that stirs in the forest, in the jungles, in the hearts of wild men. There's no initiation either into such mysteries. He has to live in the midst of the incomprehensible, which is also detestable. And it has a fascination, too, that goes to work upon him. The fascination of the abomination--you know, imagine the growing regrets, the longing to escape, the powerless disgust, the surrender, the hate.

Why’re you like that?” the boy persisted. “Like what?” Paragon finally asked in annoyance. “Ya’know. Allus mad. Or crazy fightin’ Say’n stuff ta be mean.” “How else do you expect me to be?” Paragon retorted. “Joyous that they’ve dragged me out here? All excited to go off on a hare-brained rescue mission with them?” He felt the boy’s shrug. “Ya could be.” “I could be?” Paragon snorted. “I’d like to know how.” “S’easy. Ya decide t’be.” “You decide to be happy? I should just forget everything that has been done to me, and be happy? Tra-la-la-la? Like that.” “Ya could.” He heard the boy’s nails against his scalp. “Lookit me. I coulda hated everyone o’ ‘em. I decided t’be happy. Decided ta take what I could get. Make a life outer it.” A pause. “S’not like I’m gonna get another life. Gotta make this’n work.” “It’s not that simple,” Paragon snapped. “Could be,” Cliff insisted. “In’t no harder than decidin’t’be mad allus.” The boy sauntered away slowly. His bare feet scuffed lightly on the deck. “But it’s a lot funner,” he called back over his shoulder. p. 406: Clef to Paragon

The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation when the market goes against you you hope that every day will be the last day and you lose more than you should had you not listened to hope to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out too soon. Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.

So. Which of our troubles torments you most this evening?” Althea surrendered. “They all nip at my heels like a pack of yapping feists, ship. I don’t know which to worry about first.” The figurehead gave a snort of disdain. “Then kick them away as if they were truly a pack of curs and fix your gaze instead on your destiny.” … “Don’t think about the obstacles” … The ship spoke in a low, soft voice. “Long or short, if you worry about every step of a journey, you will divide it endlessly into pieces, any one of which may defeat you. Look only to the end.” “I think we will succeed only if we prepare ourselves,” Althea objected. Paragon shook his head. “Teach yourself to believe you will succeed. … Be now what you must be to succeed at the end of your journey, and when the end comes, you will find it is just another beginning.” Althea sighed. “Now you sound like Amber,” she complained. “No.” He contradicted her flatly. “Now I sound like myself. The self I put aside and hid, the self I intended to be again someday, when I was ready. I have stopped intending. I am, now.” p. 86: Paragon to Althea

So. I should just give up now?" she asked mildly. "Just let him spiral down into madness until the New Traders come to haul him away and chop him up? What will we say to one another afterwards, Brashen? That there was nothing we could do, that we never believed it would really happen. Will that make us innocent?" "Innocent?" He was incensed at her suggestion he was somehow responsible for this mess. "I've done nothing wrong, I intend nothing wrong. I am innocent!" "Half the evil in this world occurs while decent people stand by and do nothing wrong. It's not enough to refrain from evil, Trell. People have to attempt to do right, even if they believe they cannot succeed." "Even when it's stupid to try?" he asked with savage sarcasm. "Especially then," she replied sweetly. "That's how it's done, Trell. You break your heart against this stony world. You fling yourself at it, on the side of good, and you do not ask the cost. That's how you do it.

Most of these stories are on the tragic side. But the reader must not suppose that the incidents I have narrated were of common occurrence. The vast majority of these people, government servants, planters, and traders, who spent their working lives in Malaya were ordinary people ordinarily satisfied with their station in life. They did the jobs they were paid to do more or less competently,. They were as happy with their wives as are most married couples. They led humdrum lives and did very much the same things every day. Sometimes by way of a change they got a little shooting; but at a rule, after they had done their day's work, they played tennis if there were people to play with, went to the club at sundown if there was a club in the vicinity, drank in moderation, and played bridge. They had their little tiffs, their little jealousies, their little flirtations, their little celebrations. They were good, decent, normal people. I respect, and even admire, such people, but they are not the sort of people I can write stories about. I write stories about people who have some singularity of character which suggests to me that they may be capable of behaving in such a way as to give me an idea that I can make use of, or about people who by some accident or another, accident of temperament, accident of environment, have been involved in unusual contingencies. But, I repeat, they are the exception.

A true natural aristocracy is not a separate interest in the state, or separable from it. It is an essential integrant part of any large body rightly constituted. It is formed out of a class of legitimate presumptions, which taken as generalities, must be admitted for actual truths. To be bred in a place of estimation; to see nothing low and sordid from one’s infancy; to be taught to respect one’s self; to be habituated to the censorial inspection of the public eye; to look early to public opinion; to stand upon such elevated ground as to be enabled to take a large view of the wide-spread and infinitely diversified combinations of men and affairs in a large society; to have leisure to read, to reflect, to converse; to be enabled to draw the court and attention of the wise and learned wherever they are to be found;—to be habituated in armies to command and to obey; to be taught to despise danger in the pursuit of honor and duty; to be formed to the greatest degree of vigilance, foresight and circumspection, in a state of things in which no fault is committed with impunity, and the slightest mistakes draw on the most ruinous consequence—to be led to a guarded and regulated conduct, from a sense that you are considered as an instructor of your fellow-citizens in their highest concerns, and that you act as a reconciler between God and man—to be employed as an administrator of law and justice, and to be thereby amongst the first benefactors to mankind—to be a professor of high science, or of liberal and ingenuous art—to be amongst rich traders, who from their success are presumed to have sharp and vigorous understandings, and to possess the virtues of diligence, order, constancy, and regularity, and to have cultivated an habitual regard to commutative justice—these are the circumstances of men, that form what I should call a natural aristocracy, without which there is no nation.

The blackest chapter in the history of this State will be the Indian guardianship over these estates,” an Osage leader said, adding, “There has been millions—not thousands—but millions of dollars of many of the Osages dissipated and spent by the guardians themselves.” This so-called Indian business, as White discovered, was an elaborate criminal operation, in which various sectors of society were complicit. The crooked guardians and administrators of Osage estates were typically among the most prominent white citizens: businessmen and ranchers and lawyers and politicians. So were the lawmen and prosecutors and judges who facilitated and concealed the swindling (and, sometimes, acted as guardians and administrators themselves). In 1924, the Indian Rights Association, which defended the interests of indigenous communities, conducted an investigation into what it described as “an orgy of graft and exploitation.” The group documented how rich Indians in Oklahoma were being “shamelessly and openly robbed in a scientific and ruthless manner” and how guardianships were “the plums to be distributed to the faithful friends of the judges as a reward for their support at the polls.” Judges were known to say to citizens, “You vote for me, and I will see that you get a good guardianship.” A white woman married to an Osage man described to a reporter how the locals would plot: “A group of traders and lawyers sprung up who selected certain Indians as their prey. They owned all the officials…. These men had an understanding with each other. They cold-bloodedly said, ‘You take So-and-So, So-and-So and So-and-So and I’ll take these.’ They selected Indians who had full headrights and large farms.

It is a curious thing that at my age — fifty-five last birthday — I should find myself taking up a pen to try to write a history. I wonder what sort of a history it will be when I have finished it, if ever I come to the end of the trip! I have done a good many things in my life, which seems a long one to me, owing to my having begun work so young, perhaps. At an age when other boys are at school I was earning my living as a trader in the old Colony. I have been trading, hunting, fighting, or mining ever since. And yet it is only eight months ago that I made my pile. It is a big pile now that I have got it — I don't yet know how big — but I do not think I would go through the last fifteen or sixteen months again for it; no, not if I knew that I should come out safe at the end, pile and all. But then I am a timid man, and dislike violence; moreover, I am almost sick of adventure. I wonder why I am going to write this book: it is not in my line. I am not a literary man, though very devoted to the Old Testament and also to the "Ingoldsby Legends." Let me try to set down my reasons, just to see if I have any.

Why do we complain of Nature? She has shown herself kindly; life, if you know how to use it, is long. But one man is possessed by an avarice that is insatiable, another by a toilsome devotion to tasks that are useless; one man is besotted with wine, another is paralyzed by sloth; one man is exhausted by an ambition that always hangs upon the decision of others, another, driven on by the greed of the trader, is led over all lands and all seas by the hope of gain; some are tormented by a passion for war and are always either bent upon inflicting danger upon others or concerned about their own; some there are who are worn out by voluntary servitude in a thankless attendance upon the great; many are kept busy either in the pursuit of other men's fortune or in complaining of their own; many, following no fixed aim, shifting and inconstant and dissatisfied, are plunged by their fickleness into plans that are ever new; some have no fixed principle by which to direct their course, but Fate takes them unawares while they loll and yawn—so surely does it happen that I cannot doubt the truth of that utterance which the greatest of poets delivered with all the seeming of an oracle: "The part of life we really live is small."5 For all the rest of existence is not life, but merely time. Vices beset us and surround us on every side, and they do not permit us to rise anew and lift up our eyes for the discernment of truth, but they keep us down when once they have overwhelmed us and we are chained to lust. Their victims are never allowed to return to their true selves; if ever they chance to find some release, like the waters of the deep sea which continue to heave even after the storm is past, they are tossed about, and no rest from their lusts abides. Think you that I am speaking of the wretches whose evils are admitted? Look at those whose prosperity men flock to behold; they are smothered by their blessings. To how many are riches a burden! From how many do eloquence and the daily straining to display their powers draw forth blood! How many are pale from constant pleasures! To how many does the throng of clients that crowd about them leave no freedom! In short, run through the list of all these men from the lowest to the highest—this man desires an advocate,6 this one answers the call, that one is on trial, that one defends him, that one gives sentence; no one asserts his claim to himself, everyone is wasted for the sake of another. Ask about the men whose names are known by heart, and you will see that these are the marks that distinguish them: A cultivates B and B cultivates C; no one is his own master. And then certain men show the most senseless indignation—they complain of the insolence of their superiors, because they were too busy to see them when they wished an audience! But can anyone have the hardihood to complain of the pride of another when he himself has no time to attend to himself? After all, no matter who you are, the great man does sometimes look toward you even if his face is insolent, he does sometimes condescend to listen to your words, he permits you to appear at his side; but you never deign to look upon yourself, to give ear to yourself. There is no reason, therefore, to count anyone in debt for such services, seeing that, when you performed them, you had no wish for another's company, but could not endure your own.

The world is changing, I said. It is no longer a world just for boys and men. Our women are respected here, said the father. We would never let them tramp the world as American women do. There is always someone to look after the Olinka woman. A father. An uncle. A brother or nephew. Do not be offended, Sister Nettie, but our people pity women such as you who are cast out, we know not from where, into a world unknown to you, where you must struggle all alone, for yourself. So I am an object of pity and contempt, I thought, to men and women alike. Furthermore, said Tashi’s father, we are not simpletons. We understand that there are places in the world where women live differently from the way our women do, but we do not approve of this different way for our children. But life is changing, even in Olinka, I said. We are here. He spat on the ground. What are you? Three grownups and two children. In the rainy season some of you will probably die. You people do not last long in our climate. If you do not die, you will be weakened by illness. Oh, yes. We have seen it all before. You Christians come here, try hard to change us, get sick and go back to England, or wherever you come from. Only the trader on the coast remains, and even he is not the same white man, year in and year out. We know because we send him women. Tashi is very intelligent, I said. She could be a teacher. A nurse. She could help the people in the village. There is no place here for a woman to do those things, he said. Then we should leave, I said. Sister Corrine and I. No, no, he said. Teach only the boys? I asked. Yes, he said, as if my question was agreement. There is a way that the men speak to women that reminds me too much of Pa. They listen just long enough to issue instructions. They don’t even look at women when women are speaking. They look at the ground and bend their heads toward the ground. The women also do not “look in a man’s face” as they say. To “look in a man’s face” is a brazen thing to do. They look instead at his feet or his knees.

You can’t go back,” she told him bluntly. Her voice was neither kind nor unkind. “That part of your life is over. Set it aside as something you have finished. Complete or no, it is done with you. No being gets to decide what his life is ‘supposed to be.’” She lifted her eyes and her gaze stabbed him. “Be a man. Discover who you are now, and go on from there, making the best of things. Accept your life, and you might survive it. If you hold back from it, insisting that this is not your life, not where you are meant to be, life will pass you by. You may not die from such foolishness, but you might as well be dead for all the good your life will do you or anyone else.” p. 114 Etta to Wintrow

She turned to look at Althea with eyes the color if brandy in firelight. "Can't you feel it?" she asked her in a whisper. "Look around you. We are on the cusp. We are a coin spinning in the toss, a card fluttering in the flip, a rune chip floating in stirred water. Possibilities swarm like bees. In this day, in a moment, in a breath, the future of the world will shift course by a notch, One way or another, the coin will land ringing, the card will settle to the table, the chip will bob to the surface, The face that shows uppermost will set our days, and children to come will say, "That is just the way it has always been.

I am a man and what I have to recapture is the whole past of the world, I am not responsible only for the slavery involved in Santo Domingo, every time man has contributed to the victory of the dignity of the spirit, every time a man has said no to an attempt to subjugate his fellows, I have felt solidarity with his act. In no way does my basic vocation have to be drawn from the past of peoples of color. In no way do I have to dedicate myself to reviving some black civilization unjustly ignored. I will not make myself the man of any past. My black skin is not a repository for specific values. Haven’t I got better things to do on this earth than avenge the blacks of the 17th century? I as a man of color do not have the right to hope that in the white man there will be a crystallization of guilt towards the past of my race. I as a man of color do not have the right of stamping down the pride of my former master. I have neither the right nor the duty to demand reparations for my subjugated ancestors. There is no black mission. There is no white burden. I do not want to be victim to the rules of a black world. Am I going to ask this white man to answer for the slave traders of the 17th century? Am I going to try by every means available to cause guilt to burgeon in their souls? I am not a slave to slavery that dehumanized my ancestors. It would be of enormous interest to discover a black literature or architecture from the 3rd century B.C, we would be overjoyed to learn of the existence of a correspondence between some black philosopher and Plato, but we can absolutely not see how this fact would change the lives of 8 year old kids working the cane fields of Martinique or Guadeloupe. I find myself in the world and I recognize I have one right alone: of demanding human behavior from the other.

In the same mathematically reciprocal way, profit implies loss. If you and I exchange equal goods, that is trade: neither of us profits and neither of us loses. But if we exchange unequal goods, one of us profits and the other loses. Mathematically. Certainly. Now, such mathematically unequal exchanges will always occur because some traders will be shrewder than others. But in total freedom—in anarchy—such unequal exchanges will be sporadic and irregular. A phenomenon of unpredictable periodicity, mathematically speaking. Now look about you, professor—raise your nose from your great books and survey the actual world as it is—and you will not observe such unpredictable functions. You will observe, instead, a mathematically smooth function, a steady profit accruing to one group and an equally steady loss accumulating for all others. Why is this, professor? Because the system is not free or random, any mathematician would tell you a priori. Well, then, where is the determining function, the factor that controls the other variables? You have named it yourself, or Mr. Adler has: the Great Tradition. Privilege, I prefer to call it. When A meets B in the marketplace, they do not bargain as equals. A bargains from a position of privilege; hence, he always profits and B always loses. There is no more Free Market here than there is on the other side of the Iron Curtain. The privileges, or Private Laws—the rules of the game, as promulgated by the Politburo and the General Congress of the Communist Party on that side and by the U.S. government and the Federal Reserve Board on this side—are slightly different; that’s all. And it is this that is threatened by anarchists, and by the repressed anarchist in each of us,

Pham Nuwen spent years learning to program/explore. Programming went back to the beginning of time. It was a little like the midden out back of his father’s castle. Where the creek had worn that away, ten meters down, there were the crumpled hulks of machines—flying machines, the peasants said—from the great days of Canberra’s original colonial era. But the castle midden was clean and fresh compared to what lay within the Reprise’s local net. There were programs here that had been written five thousand years ago, before Humankind ever left Earth. The wonder of it—the horror of it, Sura said—was that unlike the useless wrecks of Canberra’s past, these programs still worked! And via a million million circuitous threads of inheritance, many of the oldest programs still ran in the bowels of the Qeng Ho system. Take the Traders’ method of timekeeping. The frame corrections were incredibly complex—and down at the very bottom of it was a little program that ran a counter. Second by second, the Qeng Ho counted from the instant that a human had first set foot on Old Earth’s moon. But if you looked at it still more closely. . .the starting instant was actually some hundred million seconds later, the 0-second of one of Humankind’s first computer operating systems. So behind all the top-level interfaces was layer under layer of support. Some of that software had been designed for wildly different situations. Every so often, the inconsistencies caused fatal accidents. Despite the romance of spaceflight, the most common accidents were simply caused by ancient, misused programs finally getting their revenge. “We should rewrite it all,” said Pham. “It’s been done,” said Sura, not looking up. She was preparing to go off-Watch, and had spent the last four days trying to root a problem out of the coldsleep automation. “It’s been tried,” corrected Bret, just back from the freezers. “But even the top levels of fleet system code are enormous. You and a thousand of your friends would have to work for a century or so to reproduce it.” Trinli grinned evilly. “And guess what—even if you did, by the time you finished, you’d have your own set of inconsistencies. And you still wouldn’t be consistent with all the applications that might be needed now and then.” Sura gave up on her debugging for the moment. “The word for all this is ‘mature programming environment.’ Basically, when hardware performance has been pushed to its final limit, and programmers have had several centuries to code, you reach a point where there is far more signicant code than can be rationalized. The best you can do is understand the overall layering, and know how to search for the oddball tool that may come in handy—take the situation I have here.” She waved at the dependency chart she had been working on. “We are low on working fluid for the coffins. Like a million other things, there was none for sale on dear old Canberra. Well, the obvious thing is to move the coffins near the aft hull, and cool by direct radiation. We don’t have the proper equipment to support this—so lately, I’ve been doing my share of archeology. It seems that five hundred years ago, a similar thing happened after an in-system war at Torma. They hacked together a temperature maintenance package that is precisely what we need.” “Almost precisely.

Making money in the markets is tough. The brilliant trader and investor Bernard Baruch put it well when he said, “If you are ready to give up everything else and study the whole history and background of the market and all principal companies whose stocks are on the board as carefully as a medical student studies anatomy—if you can do all that and in addition you have the cool nerves of a gambler, the sixth sense of a clairvoyant and the courage of a lion, you have a ghost of a chance.” In retrospect, the mistakes that led to my crash seemed embarrassingly obvious. First, I had been wildly overconfident and had let my emotions get the better of me. I learned (again) that no matter how much I knew and how hard I worked, I could never be certain enough to proclaim things like what I’d said on Wall $ treet Week: “There’ll be no soft landing. I can say that with absolute certainty, because I know how markets work.” I am still shocked and embarrassed by how arrogant I was. Second, I again saw the value of studying history. What had happened, after all, was “another one of those.” I should have realized that debts denominated in one’s own currency can be successfully restructured with the government’s help, and that when central banks simultaneously provide stimulus (as they did in March 1932, at the low point of the Great Depression, and as they did again in 1982), inflation and deflation can be balanced against each other. As in 1971, I had failed to recognize the lessons of history. Realizing that led me to try to make sense of all movements in all major economies and markets going back a hundred years and to come up with carefully tested decision-making principles that are timeless and universal. Third, I was reminded of how difficult it is to time markets. My long-term estimates of equilibrium levels were not reliable enough to bet on; too many things could happen between the time I placed my bets and the time (if ever) that my estimates were reached. Staring at these failings, I realized that if I was going to move forward without a high likelihood of getting whacked again, I would have to look at myself objectively and change—starting by learning a better way of handling the natural aggressiveness I’ve always shown in going after what I wanted. Imagine that in order to have a great life you have to cross a dangerous jungle. You can stay safe where you are and have an ordinary life, or you can risk crossing the jungle to have a terrific life. How would you approach that choice? Take a moment to think about it because it is the sort of choice that, in one form or another, we all have to make.