June 2, 2012- The best advice is to ignore advice.
I don’t take pitches from companies to recommend them to clients, and no one can pay me to endorse them. I recommend clients to buy or sell, based on what the fundamentals of the company is telling me, and it is up to the client’s choice to buy or sell them. End of the day, opinions are just that – opinions.
Of course, I recommend speculative stocks as well, but with full disclosure of the risks.
And those are my boundaries. They might not be for everyone, and I’m sure that others have other systems that work for them, but there you go.
Now if you want some good pieces of advice in life?
===> One of the best speeches this year comes from Neil Gaiman. Watch this.
More great renditions from Neil Gaiman’s speech:
1.) Make Good Art! http://zenpencils.com/comic/50-neil-gaiman-make-good-art/
And never forget about luck. The harder you work, the luckier you get.
Ignore risks at your peril. Soon enough, you’ll learn. Either they be million peso mistakes, or hundred thousand peso mistakes. They’ll come. Risk management wasn’t a department in most trading floors and hedgefunds , “just because”, you know.
Position size, discipline, system rules.
No alliances. No allegiances in the markets. You’re always on your own. Hindi araw araw pasko. Talk is cheap. If you have nothing important to say, be silent.
I just finished reading Joshua Brown’s “Backstage Wall Street”. Reminds me of the movie Boiler Room.
– Don’t pitch the bitch
“Wall Street sheared the sheep just as they always have, how long will they keep coming back for more?”
Make money, lose money, make your own decisions.
– Faceless Trader