Buy Low, Sell High

Or so they say, on Wall Street.

But they say a lot of things on Wall Street. And everyone is trying to sell something. Even those that are buying, are buying with the intent of selling it to some sucker in the future.

They’ll tell you that the trend is your friend, right before they advise you to sell into any rally.

You should buy on dips, but never try to catch a falling knife (however, picking up a knife on the floor never hurt anyone).

I’ve heard that as January goes, so goes the year. Until the summer months approach, then you should sell in May and go away (this one would have worked well in 2008).

Don’t try to time the market, think long term (unless, of course, you’re a short term trader in which case you should buy the dips and sell the rips).

Buy value, unless you should be buying momentum. What’s your timeframe? What’s your pain tolerance?

Buy into weakness, but don’t forget that falling knives cut (and can be painful).

Be fearful when others are greedy, and be greedy when others are fearful (thanks Warren)

Buy when there's blood in the streets (thank YOU Baron Rothschild).

Don’t sell after a crash, it’s too late. If you’re going to panic, panic early.

No one rings a bell at the market bottom (this one’s not true – they ring a bell every time the market opens and closes, so they actually do ring a bell at the bottom, give or take a couple of hours).

Buy the rumor, sell the news.

Don’t fight the tape.

The markets first job is to confound the greatest number of participants.

Markets can remain irrational longer than you can remain solvent (unless you stay out of the market, in which case you can stay solvent indefinitely).

Bulls make money, bears make money, pigs get slaughtered (no one ever went broke taking profits).

Don’t marry your stocks (you should only date them, casually, and be ready to dump them like an annoying girlfriend).

Sell the greed, buy the fear.

Greed is good (especially when you’re selling it). Paging Gordon Gecko…

"Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. Nothing you have ever experienced will prepare you for the absolute carnage you are about to witness. Super Bowl, World Series - they don't know what pressure is. In this building, it's either kill or be killed. You make no friends in the pits and you take no prisoners. One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley. Are you with me?" - Louis Winthorpe III







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After losing 30% of its value in 9 days of trading, the Icelandic stock exchange was closed for a 3 day cooling off period. It opened again yesterday and, not surprisingly, there had been no cooling off. Not unlike locking the doors of a burning building while people are still inside, the exits had become, er, well, crowded. In a mad stampede for the door, when the exchange opened it crashed, down 77% in a single day.

The entire country of Iceland is now being auctioned off on eBay for a 'Buy it now' price of 16 Euros.