Wednesday, May 22, 2013

When the facts change.....

I first heard the quote "When the facts change, I change my mind. What do you do, Sir?" in an autobiography of Bernard Baruch. I don't remember if he was quoting John Maynard Keynes or not. But his advice was some of the most valuable that I collected in my early days of learning to trade.....

(When asked the secret of his success in the markets Baruch told the listener, "I buy late and I sell early".)

I mention this because of the frequent zig-zags that my posts sometimes take. One day for inflation and stock appreciation and the next predicting a decline in stocks.

I trade. And traders compete with each other. If you are long term, do your thing. I manage my long term investments different.  It is called being diversified!

I trade. And I have to beware of the company that I keep.

I "Trade the Traders". Another good book to read.

The history of the quote here.


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