Bernard Baruch (August 19, 1870 – June 20, 1965) was the son of a South Carolina physician whose family moved to New York City when he was eleven year old. By his mid-twenties, he is able to buy an $18,000 seat on the exchange with his winnings and commissions from being a broker. By age 30, he is a millionaire and is known all over The Street as “The Lone Wolf”.
In his two-volume 1957 memoirs, My Own Story, Baruch left us with the following timeless rules for playing the game:
“Being so skeptical about the usefulness of advice, I have been reluctant to lay down any ‘rules’ or guidelines on how to invest or speculate wisely. Still, there are a number of things I have learned from my own experience which might be worth listing for those who are able to muster the necessary self-discipline:”
1. Don’t speculate unless you can make it a full-time job.
2. Beware of barbers, beauticians, waiters — of anyone — bringing gifts of “inside” information or “tips.”
3. Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities for growth.
4. Don’t try to buy at the bottom and sell at the top. This can’t be done — except by liars.
5. Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
6. Don’t buy too many different securities. Better have only a few investments which can be watched.
7. Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects.
8. Study your tax position to know when you can sell to greatest advantage.
9. Always keep a good part of your capital in a cash reserve. Never invest all your funds.
10. Don’t try to be a jack of all investments. Stick to the field you know best.
Baruch would later go on from Wall Street to Washington DC as an advisor to both Woodrow Wilson and to FDR during World War II.
Later, he became known as the Park Bench Statesman, owing to his fondness for discussing policy and politics with his acquaintances outdoors.
He lived til a few days shy of his 95th birthday in 1965. You could do worse than to invest and live based on these simple truths.
An Apple ID is the personalized account you use to entry Apple services like the App Store, iTunes Keep, iCloud, iMessage, the Apple On the web Store, FaceTime, and far more. It consists of the electronic mail handle and password you use to sign in, as…
A villa was initially an ancient Roman upper-class region property. Given that its origins in the Roman villa, the idea and perform of a villa have progressed noticeably. Right after the slide of the Roman Republic, villas turned tiny farming compounds…
An straightforward way that you can avoid your hair from falling out is to massage your scalp for five minutes each day. Performing this helps blood circulation to the scalp, which is key in avoiding hair decline. It is very best for you to massage you…
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
Get a Full Investor Curriculum: Join The Book List
Every month you'll receive 3-4 book suggestions--chosen by hand from more than 1,000 books. You'll also receive an extensive curriculum (books, articles, papers, videos) in PDF form right away.
خرید اپل ایدی و ساخت apple id معتبر آمریکا
An Apple ID is the personalized account you use to entry Apple services like the App Store, iTunes Keep, iCloud, iMessage, the Apple On the web Store, FaceTime, and far more. It consists of the electronic mail handle and password you use to sign in, as…
kala jadu
[…]here are some hyperlinks to internet sites that we link to because we feel they may be worth visiting[…]
best realistic dildos
[…]below you will come across the link to some web sites that we believe it is best to visit[…]
pleasure ring
[…]here are some hyperlinks to web sites that we link to for the reason that we think they’re worth visiting[…]
adammale.com
[…]very handful of web-sites that come about to be comprehensive below, from our point of view are undoubtedly well worth checking out[…]
وب سایت اجاره ویلا در شمال و رامسر و کر…
A villa was initially an ancient Roman upper-class region property. Given that its origins in the Roman villa, the idea and perform of a villa have progressed noticeably. Right after the slide of the Roman Republic, villas turned tiny farming compounds…
red vibrating dildo
[…]please stop by the websites we follow, such as this a single, because it represents our picks in the web[…]
هولدینگ پویا
beneath youll obtain the link to some world wide web internet sites that we come to feel you should to pay a visit to
remote controlled bullet
[…]Here are some of the web pages we recommend for our visitors[…]
best selling vibrator
[…]usually posts some quite fascinating stuff like this. If youre new to this site[…]
vibrator
[…]Every when in a even though we select blogs that we read. Listed beneath are the latest web-sites that we opt for […]
couples sex toys
[…]The details talked about in the article are several of the very best out there […]
egg vibrator
[…]one of our guests a short while ago advised the following website[…]
prostate massage
[…]Sites of interest we’ve a link to[…]
ترمیم مو به بهترین روش برای آقایان و ب…
An straightforward way that you can avoid your hair from falling out is to massage your scalp for five minutes each day. Performing this helps blood circulation to the scalp, which is key in avoiding hair decline. It is very best for you to massage you…