The carnage of 2008 forever changed the socioeconomic landscape and seismically shifted the collective perception of what we do, how we do it and who we do it with.
As we look back at the year that was and cast an eye towards what will be, a little perspective will most certainly go a long way. Herewith are some personal lessons learned, some of which relate to the market but most of which apply to life.
- All you have is your name and your word.
- Emotion is the enemy when trading.
- The only difference between genius and madness is acceptance.
- Adapt but don’t conform.
- The reaction to news is more important than the news itself.
- Time is the most precious commodity.
- Free will is God’s greatest gift.
- Experience is a close second.
- Negative energy is wasted energy.
- You gotta have faith.
- Hope isn’t a viable investment vehicle.
- The only difference between intervention and manipulation is communication.
- One hand washes the other.
- Good traders know how to make money but great traders know how to take a loss.
- Where you stand is a function of where you sit.
- Life is shaped by decisions made.
- Take the high road. It’s less crowded and boasts a much better view.
- To appreciate where we are, you must understand how we got here.
- The opposite of love isn’t hate; it’s apathy.
- Stay out of debt.
- The friction between opinions is where true education resides.
- A dream is only as powerful as those who believe in it.
- Money comes and goes.
- The best way to build a growth company is by surrounding yourself with people who can themselves grow.
- Tenacity and resolve are the hallmarks of success.
- View obstacles as opportunities.
- The only difference between a lesson and a mistake is the ability to learn from it.
- The definition of an investment should never be a trade gone awry.
- By the time you get to where you think you want to be, the journey will be over.
- Think positive.
No positions in stocks mentioned.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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