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Psychology Of A Market Participant

"Life will have terrible blows in it, horrible blows, unfair blows. It doesn't matter. And some people recover and others don't. And there I think the attitude of Epictetus is the best. He thought that every missed chance in life was an opportunity to behave well, every missed chance in life was an opportunity to learn something, and that your duty was not to be submerged in self-pity, but to utilize the terrible blow in constructive fashion. That is a very good idea." C. Munger
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Adaptability and the Market

As Bruce Lee once said, “You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it becomes the teapot. Water can drip and it can crash. Become like water my friend.”
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Why Our ‘Recovery’ Is Just Another Bubble – And How You Can Profit From It

For the past seven years since the most acute phase of the Global Financial Crisis, economists, financial journalists, and business leaders have bought into the idea that we are in a sustainable global economic recovery.

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