Edwin Lefevre Quotes

The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.

The three traits speculators must learn to manage within themselves are confidence, fear, and aggressiveness.

Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.

For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up.

That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do.

It takes a man a long time to learn all the lessons of all of his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.

I like to get into a lot of things besides movies. I've been very involved with a few specific efforts. We built this park in New York and it's been a very successful project... I worked on a conservation project in East Africa... Too much of this type of stuff can get you wrapped up in your own work and I love it.

The claim that democracy and efficiency are contradictory is nonsense. That's evident in the history of democracy itself, because it is only democrats who were and continue to be capable of learning from mistakes. A more appropriate question is to ask whether a country like China, which has been so incredibly successful economically, is actually inefficient in light of its environmental destruction and its corruption. In China's perception, however, the democratic model is doubtlessly inferior.

Thierry Henry is a fantastic professional and will be massive here in New York, i'm sure, he is world class

I'm not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

If there are two or more ways to do something and one of those ways can result in a catastrophe, then someone will do it.

New York! I've always wanted to see it and now I've see it. It's true what they say-- it's the most wonderful city in the world.

But then when I'm in a halfway successful movie, it irritates the hell out of the critics in New York, because they'd like to kill my pictures if they could. So maybe I'm pretty good in the movie. Then they use all these words like I'm 'surprisingly' good, or 'shockingly enough,' I'm good. It's like I crawled out from under a magazine and they're surprised I can act.

My first feature film was a movie called 'A Gunfight,' with Kirk Douglas, Johnny Cash, Karen Black, Jane Alexander, Raf Vallone... It was shot in Santa Fe, Mexico, in 1970, and it was directed by Lamont Johnson. It was the first gig I did when I got to California from having done 'Hair' in New York on Broadway for a year. It was a Western, though! But that film was not a successful release.

Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

Political systems must love poverty-they produce so much of it. Poor people make easier targets for a demagogue. No Mao or even Jiang Zemin is likely to arise on the New York Stock Exchange floor. And politicians in democracies benefit from destitution, too. The US has had a broad range of poverty programs for 30 years. Those programs have failed. Millions of people are still poor. And those people vote for politicians who favor keeping the poverty programs in place. There's a conspiracy theory in there somewhere.

Don’t ever average losers. Decrease your trading volume when you are trading poorly; increase your volume when you are trading well. Never trade in situations where you don’t have control. For example, I don’t risk significant amounts of money in front of key reports, since that is gambling, not trading.

As much as I moved to New York and tried to work in theater as much as I could - I developed a relationship with Circle Rep - make no mistake about it, I really, really wanted to be in a film. It seemed like almost everyone I knew at least did something in a movie, except me.

Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I'm getting out before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis... I never think about [stop vulnerability], because the point about a technical barrier - and I've studied the technical aspects of the market for a long time - is that the market shouldn't go there if you are right.

I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.

Learning from mistakes and constantly improving products is a key in all successful companies.

If you're going to be a successful entrepreneur, you're going to have to be somebody who can tolerate a high rate of change, you have to be willing to put a lot more hours into it, you have to tolerate the fact that you're going to make more mistakes and have a culture that responds to that.

The first mistake in the New York Times is worrying about granting Trump access. They're not "granting" Trump access. Trump is commanding access. Trump is taking access. Trump is dictating the daily narrative.

If you are not successful, that means you're not making enough mistakes.

Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.