Animals teach investing lessons
Know before entering a trade how you will minimise losses and lock in profits, writes Michel Pireu
BEHOLD the turtle. He makes progress only when he sticks his neck out. — James Bryant Conant.What we can learn about investing from:• SpidersSpiders set up their webs and then sit tight, waiting for the meal to show up. They are patient. They let their tools do the work, bringing to mind Jesse Livermore’s revelation that, "It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets."I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine — that is, they made no real money out of it."Men who can both be right and sit tight are uncommon."A spider does better by making a large web, but too large and it won’t be able to hold the prey. Liken the size...
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