“All through time, people have basically acted and reacted the same way in the market as a result of greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis. Over and over, with slight variations. Because markets are driven by humans and human nature never changes.”
Jesse Lauriston Livermore
Human Action: A Treatise on Economics
by Ludwig Von Mises
Trivia Monday:
Big success that Jesse Livermore was that he later on blew his brains out in a public place. Nice touch.
from Wiki:
‘On November 28, 1940, Livermore fatally shot himself in the cloakroom of the Sherry Netherland Hotel in Manhattan.’
Another Wall Street Genius with all the answers.
Human nature, like greed, when properly harnessed, is the reason that Free Market economy excels above all others.