Trader Vic Quotes

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

If there is one fatal flaw in this business, it is allowing isolated information to drive trading or investing decisions-committing money without understanding all the risks. And there is only one way to understand all the risks: through systematic knowledge.

good decisions requires the development

the last stage of a bear market "is caused by distress selling of sound securities, regardless of their value, by those who must find a cash market for at least a portion of their assets." The market player who avoids being invested near the top of bull markets-where he can really get hurt in a panic crash-and plays the short side in bear markets can be in the position to take advantage of such distress selling. You might miss the last 10 or even 20% of the gains to be made near bull market tops (while making T-bill yields), but you'll definitely still have your capital when the time comes to buy value with tremendous upside potential and almost no downside risk. In my view, the way to build wealth is to preserve capital, make consistent profits, and wait patiently for the right opportunity to make extraordinary gains.

I know, I look hideous,” she sighed. “I’m allergic to the sun, like a werewolf or something — soon I’ll be fancying Piña Coladas at Trader Vic’s.

Learning is, after all, not whether we lose the game, but how we lose and how we've changed because of it and what we take away from it that we never had before to apply to other games. Losing, in a curious way, is winning. -Richard Bach

The essence of success and happiness results from actualizing your potential, which requires a constant process of learning and growing, as well as the recognition that making mistakes is an inevitable, even essential, part of life.