Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.
“The king may die, or I may die, or the horse may die. Furthermore, in a year, who knows? Maybe the horse will learn to fly.” My philosophy is like that man’s. I take the long-range view.
Whatever failures I have known, whatever errors I have committed, whatever follies I have witnessed in private and public life have been the consequence of action without thought.
A man sentenced to death obtained a reprieve by assuring the king he would teach his majesty’s horse to fly within the year – on the condition that if he didn’t succeed, he would be put to death at the end of the year. “Within a year,” the man explained later.
Beware of barbers, beauticians, waiters – or anyone – bringing gifts of ‘inside’ information or tips. Don’t try to be a jack of all investment. Stick to the field you know best.
Only as you do know yourself can your brain serve you as a sharp and efficient tool. Know your own failings, passions, and prejudices so you can separate them from what you see.
