Ed Seykota: Everybody Gets What They Want Out Of The Market

"Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.

I think that if people look deeply enough into their trading patterns, they find that, on balance, including all their goals, they are really getting what they want, even though they may not understand it or want to admit it."

Ed Seykota

Jesse Livermore: Sell Your Losses And Let Your Profits Run

"A loss never bothers me after I take it. I forget it overnight. But being wrong, not taking the loss, that is what does the damage to the pocketbook and the soul.

Always sell what shows you a loss and keep what shows you a profit. That was so obviously the wise thing to do and was so well known to me that even now I marvel at myself for doing the reverse.”

Jesse Livermore

John Paulson: Economy Is Recovering And Growing

“In addition to maneuvering our investment strategy based on where we are in the economic cycle, a large part of our success has been based on anticipating market events before they are generally recognized.

We believe the U.S. economy is recovering, and we anticipate continued growth."

John Paulson

Marc Faber: Own Gold Over Cash

"Cash at 0% doesn't accumulate wealth either. The moment central banks implement monetary policies where they keep interest rates negative in real terms, in other words interest rates are lower than the rate of cost of living increases, then it is very difficult to value anything. The only thing I can say is, Mr Ben Bernanke, Chairman of the Federal Reserve, and other central banks, they can print an unlimited quantity of money, but you cannot print gold. Gold is limited by its annual supply of around 2,500 tonnes annually. So it is not that gold is going up, it is that the paper value of money, the purchasing power of money is going down vis-à-vis a unit of account, which is gold."

Marc Faber

Albert Einstein: The Gold Monetary System Is Not Viable

“The gold standard has, in my opinion, the serious disadvantage that a shortage in the supply of gold automatically leads to a contraction of credit and also of the amount of currency in circulation, to which contraction prices and wages cannot adjust themselves sufficiently quickly.”

Albert Einstein

Warren Buffett: There's Nothing Material I Want Very Much

"If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. There's nothing material I want very much. And I'm going to give virtually all of it to charity when my wife and I die."

Warren Buffett

Ed Seykota: The Market Is Always Right

"If you want to know everything about the market, go to the beach. Push and pull your hands with the waves. Some are bigger waves, some are smaller. But if you try to push the wave out when it's coming in, it'll never happen. The market is always right."

Ed Seykota

Marc Faber: I See Disaster Scenario, But Stocks And Commodities Are The Places To Be

"I am very negative about the world, because I think that what caused the crisis in 2008 was excessive credit growth, excessive leverage in the system, and now the private sector is deleveraging, but governments are printing money, and through huge fiscal deficits are creating even more debt growth. So in other words, what killed the economy is now being applied to revive the economy, and I think this will lead to a disaster. But if you think it through and you believe in the disaster scenario I'm envisioning, then you will be better off in equities and in commodities than in government bonds and cash."

Marc Faber

Which Super Investors Are Bullish On The Market For 2011?

Based on previous posts on this blog, it appears George Soros, John Paulson, Bruce Berkowitz, David Tepper and Marc Faber are pretty much all bullish (while some are cautiously bullish). Each has his own reasons for being bullish. Some are bullish on the economy while others are bullish because of inflation.

It's very hard to bet against these guys and expect to win.

Marc Faber: People Shouldn't Value Their Wealth In Dollars

“If you measure the stock market not in dollars, but in gold, it is down 80% since 1999. I no longer regard the US dollar as a valid unit of account. People shouldn’t value their wealth in dollars because one day everyone will be billionaires.”

Marc Faber