March 30, 2012 King World News
With gold holding near the $1,670 level, today the Godfather of newsletter writers, Richard Russell, starts off with a quote from legendary trader Jesse Livermore and goes on to discuss what is happening in gold and stock markets: “A loss never bothers me after I take it.” Jesse Livermore.
Richard Russell continues:
“Wise words from Jesse Livermore except for one thing. Losses to me are experiential lessons. I always look at my losses and then ask, ‘What have I learned?’ If I’ve learned something valuable, I don’t consider it a loss. I take it as a lesson or an insight into my character — laziness, greed, stupidity, impatience. I’ve often said that the stock market is a great teacher, that is, if you are humble enough to learn from your mistakes or losses.