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.
Write much more, thats all I have to say. Literally, it seems as even though you relied on the online video to make your level. You naturally know what youre chatting about, why waste your intelligence on just posting movies to your website when you co…
[…]we like to honor a lot of other web web-sites on the web, even if they arent linked to us, by linking to them. Under are some webpages really worth checking out[…]
Hi would you thoughts allowing me know which webhost you’re making use of? I have loaded your weblog in 3 totally diverse browsers and I need to say this website hundreds a lot quicker then most. Can you suggest a very good hosting provider at a truthf…
[…]Wonderful story, reckoned we could combine several unrelated data, nonetheless really worth taking a appear, whoa did one particular master about Mid East has got far more problerms too […]
When I to begin with commented I clicked the “Notify me when new remarks are added” checkbox and now every time a remark is added I get three email messages with the same remark. Is there any way you can get rid of me from that provider? Thank 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.
Subscribe & Reform
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.
دوربین مدار بسته ارزان
The knowledge talked about inside the report are some of the most efficient available.
دوربین های مدار بسته
Write much more, thats all I have to say. Literally, it seems as even though you relied on the online video to make your level. You naturally know what youre chatting about, why waste your intelligence on just posting movies to your website when you co…
Vibrators
[…]very couple of sites that transpire to become in depth beneath, from our point of view are undoubtedly properly worth checking out[…]
best glass dildo
[…]we like to honor a lot of other web web-sites on the web, even if they arent linked to us, by linking to them. Under are some webpages really worth checking out[…]
Best Female Sex Toy
[…]please take a look at the sites we stick to, like this one, as it represents our picks from the web[…]
shoes for sale
[…]check below, are some completely unrelated web sites to ours, nonetheless, they are most trustworthy sources that we use[…]
shoes for sale
[…]Sites of interest we’ve a link to[…]
脱毛
[…]please go to the web sites we comply with, which includes this 1, as it represents our picks through the web[…]
خرید ، فروش دوربین مدار بسته
Hi would you thoughts allowing me know which webhost you’re making use of? I have loaded your weblog in 3 totally diverse browsers and I need to say this website hundreds a lot quicker then most. Can you suggest a very good hosting provider at a truthf…
sex toys
[…]always a big fan of linking to bloggers that I appreciate but dont get a whole lot of link appreciate from[…]
double dong
[…]Wonderful story, reckoned we could combine several unrelated data, nonetheless really worth taking a appear, whoa did one particular master about Mid East has got far more problerms too […]
18inch double dong
[…]just beneath, are various entirely not associated web-sites to ours, on the other hand, they are surely really worth going over[…]
خرید ، فروش دوربین مدار بسته
When I to begin with commented I clicked the “Notify me when new remarks are added” checkbox and now every time a remark is added I get three email messages with the same remark. Is there any way you can get rid of me from that provider? Thank you!
chennai tamil news
[…]Here is an excellent Weblog You may Locate Intriguing that we Encourage You[…]
Best Kona Coffee Online
The Best Kona Coffee took 16 centuries to arrive Online. The best Kona coffee online is still brewed as a drink prepared from the Kona roasted cherry.