Worldwide major stock markets jumped sharply following overnight Wall Street rally. Tokyo shares jumped 4%, Hong Kong market rebounded 3% and KLSE closed 0.90% up today. Why am I still not buying?
Sun Tzu said "The art of war is of vital importance to the State. It is a matter of life and death, a road either to safety or to ruin. Hence it is a subject of inquiry which can on no account be neglected."
Buffet said " Rule No. 1: Never Lose Money. Rule No. 2, don't forget rule No 1"
Sun Tzu said "He wins his battles by making no mistakes. Making no mistakes is what establishes the certainty of victory, for it means conquering an enemy that is already defeated"
Jesse L Livermore said "Do you wish to gamble blindly in the hope of getting a great profit or do you wish to speculate intelligently and get a smaller but much probable profit?......You know, a professional gambler is not looking for long shorts, but for sure money. ......As I think I also said before, this describes what I call system for placing bets. It is simple arithmetic to prove that it is a wise thing to have big bet down only when you win, and when you lose to lose only a small exploratory bet."
Having recalls these reminders, it will be only wise for me to think through my war plan carefully. This war is from within, the greatest enemy is myself. It can be won with thorough research, careful analysis and controlling my emotions.
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