Quote

Just as outright euphoria is often a sign of a market top, fear is for sure a sign of a market bottom. Time and time again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only treasury bills, you can almost close your eys and get long stocks.

Michael Steinhardt

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Michael Steinhardt
Age: 84
Born: 1940
Born: December 7
Financier
Manager
Publisher
Brooklyn
New York
Always
Wants
Appear
Witnessed
Time
Almost
Sign
Stocks
World
Sure
Bills
Treasury
Fear
Market
Cycle
Often
Bottom
Cycles
Even
Close
Investors
Every
Among
Experienced
Outright
Long
Emotion
Extremes
Euphoria

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The markets are always changing, and the successful trader needs to adapt to these changes.
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In North America, the greatest threat to the Jewish people is not the external force of antisemitism, but the internal forces of apathy, inertia and ignorance of our own heritage.
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Time and again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only [bonds], you can almost close your eyes and [buy] stocks.
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If you see a wonderful archaic Greek marble object in a museum, it's not only that it's beautiful, but what comes to your mind is the fact that it's 2,600 or so years old, and it was done by a human being at that time who you have such a limited ability to grasp - and yet you have this enormous ability to grasp.
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Part of my attraction to ancient art is that there is an element of risk, of speculation.
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Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.
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The hardest thing over the years has been having the courage to go against the dominant wisdom of the time, to have a view that is at variance with the present consensus and bet that view.
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