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Jim Paul

10 quotes

All Conclusion (3)strength (2)Impressions (2)Success (1)strategy (1)Opportunity (1)Luck (1)Accepting Loss (1)

From “What I Learned Losing a Million Dollars”

An objective loss is impervious to how you feel about it or react to it. It's not subject to anyone's appraisal; it must be accepted without evaluation.

Accepting Loss

In a continuous process there is no certainty of how or when the open market position will end...Enter: Hope or Fear. Our enemies.

Impressions

Look at things as discrete events... an activity with a defined ending point.

Impressions

You must act.

strength

At the end of the day your perception doesn't impact events. Your assessment of risk or probability or predictions. They matter as much as a weather man's forecast does.

strength

You don't have any problems–you just have to get back to work.

Conclusion

A maxim is a succinct formulation of some fundamental principle or rule of conduct. Memorizing and repeating cliches is easy–grasping their underlying principles is more difficult.

Conclusion

In 20/20 hindsight, decisions maybe good or bad but not right or wrong. With regards to markets only expressed opinions can be right or wrong. Market positions are either profitable or unprofitable, period. But due to vocabulary quirks, it is easy to equate losing money with being wrong...They…

strategy

Personalizing successes sets people up for disastrous failure. They begin to treat the successes totally as a personal reflection of their abilities rather than the result of capitalizing on a good opportunity, being at the right place at the right time, or even being just plain lucky.

Luck Opportunity Success

Success can be built upon repeated failures when the failures aren't taken personally; likewise failure can be built upon repeated success when the successes are taken personally.

Conclusion

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