“There is a time to go long. There is a time to go short. And there is a time to go fishing.”
– Jesse Livermore
Dad and I have both talked about Jesse Livermore in the past. Although he may be considered the original “day trader,” which is counter to how we invest, he profited and failed as a stock trader from his study of the psychology, emotions, and behavior of people. He understood that the short-term movements of the market, especially the extreme movements, were due to the temperament of people. One of his greatest accomplishments was knowing when he just needed to leave things be for a time, and just go fishing.
Kendall J. Anderson, CFA, Founder
Justin T. Anderson, President