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.
Hey! I know this is fairly off subject but I was asking yourself if you knew exactly where I could get a captcha plugin for my remark form? I’m making use of the very same site platform as yours and I’m possessing issues discovering 1? Many thanks a lo…
Hey, I believe your web site might be possessing browser compatibility concerns. When I search at your site in Chrome, it seems to be good but when opening in Web Explorer, it has some overlapping. I just wanted to give you a swift heads up! Other then…
Do you have a spam dilemma on this blog I also am a blogger, and I was wanting to know your circumstance we have produced some nice processes and we are searching to swap strategies with other folks, be certain to shoot me an email if fascinated.
Hey! I know this is considerably off subject but I was questioning if you understood exactly where I could get a captcha plugin for my remark kind? I’m employing the same site platform as yours and I’m getting troubles locating one? Many thanks a good…
Admiring the dedication you put into your weblog and in depth data you offer. It’s great to come across a website each as soon as in a even though that is not the same outdated rehashed info. Wonderful go through! I’ve bookmarked your internet site and…
I know this if off matter but I’m seeking into starting my personal weblog and was curious what all is needed to get set up? I’m assuming possessing a weblog like yours would value a rather penny? I’m not really web savvy so I’m not 100% specific. Any…
I was curious if you at any time thought of changing the structure of your internet site? Its really nicely created I really like what youve got to say. But maybe you could a little more in the way of material so people could join with it far better. Y…
Hi there! Do you know if they make any plugins to assist with Search engine optimisation? I’m trying to get my weblog to rank for some focused key phrases but I’m not observing very great gains. If you know of any you should share. Numerous many thanks…
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.
sex toy review
[…]The information and facts mentioned in the post are a number of the most beneficial readily available […]
دوربین مدار بسته
Many thanks yet again for the website post.Really thank you! Excellent.
Viagra for Women
[…]The facts mentioned inside the article are a number of the top accessible […]
فروش دوربین مدار بسته
Hey! I know this is fairly off subject but I was asking yourself if you knew exactly where I could get a captcha plugin for my remark form? I’m making use of the very same site platform as yours and I’m possessing issues discovering 1? Many thanks a lo…
Wand Massager Review
[…]always a large fan of linking to bloggers that I really like but do not get quite a bit of link adore from[…]
دوربین مدار بسته آنالوگ
Hey, I believe your web site might be possessing browser compatibility concerns. When I search at your site in Chrome, it seems to be good but when opening in Web Explorer, it has some overlapping. I just wanted to give you a swift heads up! Other then…
دوربین مدار بسته بیسیم
Do you have a spam dilemma on this blog I also am a blogger, and I was wanting to know your circumstance we have produced some nice processes and we are searching to swap strategies with other folks, be certain to shoot me an email if fascinated.
دوربین مداربسته آنالوگ
Hey! I know this is considerably off subject but I was questioning if you understood exactly where I could get a captcha plugin for my remark kind? I’m employing the same site platform as yours and I’m getting troubles locating one? Many thanks a good…
فروش دوربین های مدار بسته
Admiring the dedication you put into your weblog and in depth data you offer. It’s great to come across a website each as soon as in a even though that is not the same outdated rehashed info. Wonderful go through! I’ve bookmarked your internet site and…
استخدام شرکت دوربین مداربسته
I know this if off matter but I’m seeking into starting my personal weblog and was curious what all is needed to get set up? I’m assuming possessing a weblog like yours would value a rather penny? I’m not really web savvy so I’m not 100% specific. Any…
دوربین مدار بسته هایک ویژن
I was curious if you at any time thought of changing the structure of your internet site? Its really nicely created I really like what youve got to say. But maybe you could a little more in the way of material so people could join with it far better. Y…
دوربین مدار بسته هایک ویژن
Hi there! Do you know if they make any plugins to assist with Search engine optimisation? I’m trying to get my weblog to rank for some focused key phrases but I’m not observing very great gains. If you know of any you should share. Numerous many thanks…
vibrators for women
[…]very handful of web sites that come about to become in depth beneath, from our point of view are undoubtedly properly worth checking out[…]
Pocket Pussies
[…]Every when inside a while we choose blogs that we read. Listed below would be the newest web-sites that we select […]
jerking off
[…]The details talked about inside the post are a number of the top readily available […]