Midweek’s Markets Dip To A Deeper Shade of Red – $FATE $HOOD $INMB $TSLA $VPRX Move Higher

Happy Humpday!

I hope that all of you had a great day investing & trading  and that you learned a thing or two that will help you make profitable decisions in the future. As for the broad markets, they moved lower throughout the day and took a relative sharp dip into the red in the last couple hours in seemingly a negative reaction to the Fed’s comments. The Fed’s comments were inline with recent commentary, which have suggested that a tapering of purchases could begin to happen later this year if progress has been made.  Note the markets are at all-time highs and the trading was relatively lighter than usual as we remain in the summer doldrums. 

 The macroeconomic schedule also delivered additional and somewhat sobering news for the third day in a row as the total housing starts report showed a sizable 7% m/m drop to a seasonally adjusted annual rate of 1.534M units. Building permits however rose 2.6% m/m to a seasonally adjusted annual rate of 1.635M. The weekly MBA Mortgage Applications Index also fell 3.9%. The weekly crude oil inventories report confirmed a drop by 3.23M barrels. Oil prices fell again by 1.7% to close at $65.44/bbl as growth concerns continue to increase as the Delta variant clones spreading. Tomorrow’s schedule will produce the weekly Initial and Continuing Claims report, the Conference Board’s Leading Economic Index report for August, & the Philadelphia Fed Index for August report. 

At the end of the day, the indices dropped nearly 1% across the board and closed as follows: the S&P 500 closed at 4,400.27 (-1.07%), the Dow 30 closed at 34,960.69 (-1.08%) & the Nasdaq dropped again closing at 14,525.91 (-.89%). 8 of the 11 sectors fell sharply by 1% or better, which the energy sector led the decline with a 2.4% drop. 

The smalls on the Russell 2000 also closed lower at 2,158.78 (-.84%), while the MicroCaps also slipped again as the iShares Micro-Cap ETF (IWC) closed at $139.25, (-1.12%). 

The yield curve edged slightly higher today, as the 10-yr treasury yield moved up 1 basis point to 1.27% & the 2-yr yield stayed pat to close at .21%. The U.S. Dollar Index ticked up to close at 93.15. 

Gold prices moved up $1 to close at $1,789 and silver closed at $23.53, -$.14.

BIOTECH 

The biotech sector, which bounced broadly yesterday, once again turned noticeably south.  The SPDR S&P Biotech ETF (XBI) closed at $121.61, -1.69%, the iShares Nasdaq Biotechnology ETF (IBB) closed at $168.34, -1.30% & the NYSE ARCA Biotech Index (^BTK) closed at 5,764.23, -1.48%.

Shares of VP Watchlist firm, Seattle-based Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19, closed at $3.26, +.93% on 5.13M shares of trading volume after reaching $3.39 in intraday trading.

Virpax® Pharmaceuticals, Inc. (NASDAQ:VRPX), a company specializing in developing product candidates for pain management, CNS and anti-viral indications, yesterday announced that it has received a written pre-investigational new drug (pre-IND) response from the U.S. Food and Drug Administration (FDA) for MMS019, its patented and proprietary high-density molecular masking spray under development for use as an anti-viral barrier product. Shared of VRPX closed at $15.35, +265.48% and legged up to $18.89, up another +23.06% in the aftermarket yesterday and then today jumped up another cool +49.19% to close at $22.90. Not too shabby of a follow through move. 

Shares of VP Watchlist stock, INmune Bio (NASDAQ: INMB), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease including Alzheimer’s disease, closed at $16.56, +2.73% after hitting $17.40 in intraday trading.

Shares of Fate Therapeutics (FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, closed at $91/share, +7.77%. The 52-wk high is $121.16. 

RETAIL

Lowe’s (LOW) closed at $199.70, +9.6%), Target (TGT) closed at $247.95,  -2.8%), & TJX Cos. (TJX), the leading off-price apparel and home fashions retailer in the U.S. and worldwide, closed at $73.31, +6%. All of these retail concerns reported better than expected quarterly results and Lowes & TJX increased full-year guidance. 

TECH

Shares of chip maker NVIDIA (NVDA) dipped again to close at $190.40, -2.15% now about +7% in 3 days, but reported after a earnings beat after the close and shares rose to $194.90, +2.36% in the aftermarket. Nvidia EPS came in at $1.04 vs. $1.01 and Rev’s were $6.51B, +68% Y/Y.  NVDA had record data-center & gaming revenue, but supply constraints were confirmed to still be a concern.

Amazon.com (AMZN) closed at 3,201.22, -1.26%. Apple (AAPL) cooled off again to close at $146.36, -2.55%. Tesla (TSLA) recovered to close at 688.99, +3.5%.

MEMES MOVES

AMC Entertainment (AMC) closed at $36.55, -1.64% & GameStop (GME) also closed at $157.05, -3.97%. “Short sellers alone aren’t enough to contain the bulls”, stated Jim Cramer during his Mad Money Recap last week.

Virgin Galactic Holdings (SPCE) closed at $25.25 ticking up .04%. Again, could we possibly be getting somewhere close to support levels? On Aug. 5th, SPCE reported its Q2 and Michael Colglazier, Chief Executive Officer of Virgin Galactic stated,  “In the second quarter, we made meaningful progress towards commencing commercial service in 2022. We successfully completed two spaceflights from New Mexico — the latest carrying a full crew of mission specialists in the cabin and garnering an extraordinary global media and consumer response. In addition, we received FAA approval to expand our existing launch license, marking the first time the FAA has licensed a Spaceline to fly customers to space. Leveraging the surge in consumer interest following the Unity 22 flight, we are excited to announce the reopening of sales effective today, beginning with our Spacefarer community. As we endeavor to bring the wonder of space to a broad global population, we are delighted to open the door to an entirely new industry and consumer experience.”

Shares if infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) finally reversed its recent negative course and closed at $49.80, +6.71% heading into their first earnings release after its recent IPO at $38. Their financial results for the second quarter ended June 30, 2021 confirmed that their Total net revenues increased 131% to $565 million in the second quarter of 2021, compared with $244 million in the second quarter of 2020. Their transaction-based revenues increased 141% to $451 million in the second quarter of 2021, compared with $187 million in the second quarter of 2020. Loss before income taxes was $464 million in the second quarter of 2021, compared with income before taxes of $58 million in the second quarter of 2020. Costs associated with the change in fair value of convertible notes and warrant liability totaled $528 million in the second quarter of 2021. Shares closed down in the after markets at $45.15, -9.34%. 

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP, $1.13, +3.67%). SHIP, the only pure-play Capesize ship-owner publicly listed in the US, announced last week that its Board of Directors has authorized a share repurchase plan. Under the Plan, the Company may repurchase up to $17 million of its outstanding common shares, representing approximately 10% of the Company’s market capitalization as of August 10, 2021. 

Economic Reports

• On Monday, the macroeconomic schedule delivered the Empire State Manufacturing report for August fell to 18.3.
• On Tuesday, as the total retail sales report for July confirmed a drop by  1.1% m/m & the NAHB Housing Market Index for August fell to 75. The total industrial production report showed a rise by .9% in July. The capacity utilization rate report showed a rise to 76.1%.  The Business Inventories report confirmed a rise by .8% month/month in June.
• On Wednesday, the total housing starts report showed a sizable 7% m/m drop to a seasonally adjusted annual rate of 1.534M units. Building permits however rose 2.6% m/m to a seasonally adjusted annual rate of 1.635M. The weekly MBA Mortgage Applications Index also fell 3.9%. The weekly crude oil inventories report confirmed a drop by 3.23M barrels. Oil prices fell again by 1.7% to close at $65.44/bbl as growth concerns continue to increase as the Delta variant clones spreading. 

Investing & Inspiration

1. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
2. “You cannot have a positive life and a negative mind.” – Joyce Meyer 
3. “Like wildebeest and zebra migration across the Serengeti, investment managers and consultants, too, have a habit of running together and, every now and then, changing direction.” – Sanjaya Baru
4. “If people are anything but enthusiastic about the information or ideas that they’re sharing, they’re either not that invested in what they’re doing – or they’re not communicating that investment effectively.” – Ana Kasparian 
5. “Life consists not in holding good cards but in playing those you hold well.” – Josh Billings 
6. “Friend, there’s no greater investment in life than in being a people builder. Relationships are more important than our accomplishments.” – Joel Osteen
7. “It’s only natural that the heavy users help contribute to the investment to keep the Web healthy. That is the most important concept of net neutrality.” – Lowell McAdam
8. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

9. “Eliminate emotion from your investment program.” -John C. Bogle

10. “Modern medical advances have helped millions of people live longer, healthier lives. We owe these improvements to decades of investment in medical research.” – Ike Skelton
11. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
12. “An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can’t easily recognize that they are the same.” – Daniel Kahneman
13. “The return on investment in global health is tremendous, and the biggest bang for the buck comes from vaccines. Vaccines are among the most successful and cost-effective health investments in history.” – Seth Berkley
14. “Few things in the world are more powerful than a positive push. A smile. A world of optimism and hope. A ‘you can do it’ when things are tough.” – Richard M. DeVos
15. “To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
16. “We all have dreams. But in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline, and effort.”  – Jesse Owens
17. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
18. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
19. “The secret of your future is hidden in your daily routine.” – Mike Murdock
20.  “If somebody puts you down or criticizes you, just keep on believing in yourself and turn it into something positive.” – Leah LaBelle
21. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
22. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

23. “Human behavior flows from three main sources: desire, emotion, and knowledge.” – Plato

24. “We are what our thoughts have made us; so take care about what you think. Words are secondary. Thoughts live; they travel far.” – Swami Vivekananda
25. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

26. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll

27. “Don’t worry about being a star, worry about doing good work, and all that will come to you.” – Ice Cube

28. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

29. “Prediction is very difficult, especially if it’s about the future.” – Niels Bohr (Danish Physicist)

30. “It is indeed true that the stock market can forecast the business cycle.” -Paul Samuelson

31. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sacks

32. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
33. “Each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it is too late.” – Thomas Sowell
34. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
35. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem

36. “View health as an investment, not an expense.” – John Quelch

37. “Opportunity does not knock, it presents itself when you beat down the door.” – Kyle Chandler

38. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll
39. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
40. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
41. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
42. “A problem is a chance for you to do your best.”–  Duke Ellington
43. “The best way to predict the future is to create it.” -Peter Drucker
44. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
45. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
46. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” – William Feather
47. “While I’m sure some millennials are concerned with the ethical issues involved in mining for diamonds, the main reason they steer clear of the gems is because, well, they’re a dumb investment.” – Ana Kasparian
48. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sack
49. “We must shift our thinking away from short-term gain toward long-term investment and sustainability, and always have the next generations in mind with every decision we make.” –  Deb Haaland
50. “The only way to have a friend is to be one.” –  Ralph Waldo Emerson
51. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant

52. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” -Liya Kebede

53. “Success is not final, failure is not fatal: it is the courage to continue that counts.”– Winston Churchill

54. “Our greatest glory is not in never falling, but in rising every time we fall.” – Confucius

55. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
56. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
57. “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.” – Elon Musk
58. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
59. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
60. “Netflix, Amazon, iTunes – whatever platforms emerge – we are looking at as having the same potential that home video had for the movie business. Which means there are entirely new opportunities to monetize our capital investment in content and do so in ways that work for distributors, for consumers and for creators.” – Bob Iger

61. “When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.” – Carl Icahn

62. “No other investment yields as great a return as the investment in education. An educated workforce is the foundation of every community and the future of every economy.” – Brad Henry
63. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu

64. “Modern medical advances have helped millions of people live longer, healthier lives.

65. We owe these improvements to decades of investment in medical research.”– Ike Skelton

66. “Stock market goes up or down, and you can’t adjust your portfolio based on the whims of the market, so you have to have a strategy in a position and stay true to that strategy and not pay attention to noise that could surround any particular investment.” – John Paulson

67. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
68. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
69. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
70. “I think you have to learn that there’s a company behind every stock and there’s only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.” – Peter Lynch
71. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
72. “The markets generally are unpredictable, so that one has to have different scenarios. The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.” – George Soros
73. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
74. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
75. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
76. “When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.” – Peter Lynch
77. “No stock price is too low for bears or too high for bulls.” – John F. Heerdink, Jr.

78. “Investment is most successful when it is most businesslike.” – Ben Graham

79. “Value stocks are about as exciting as watching grass grow, but have you ever noticed just how much your grass grows in a week?” – Christopher Browne

80. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
81. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
82. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
83. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
84. “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE
85. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
86. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
87. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
88. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
89. “A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.” — Warren Buffett
90. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
91. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
92. “Know what you own, and know why you own it.” – Peter Lynch
93. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch
94. “Wise spending is part of wise investing. And it’s never too late to start.” – Rhonda Katz

95. “Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis

96. “Fear incites human action far more urgently than does the impressive weight of historical evidence.”
    -Jeremy Siegel
97. “With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” — Carlos Slim Helu
98. “If we like a business, we’re going to buy as much of it as we can and keep it as long as we can. And when we change our mind, we don’t take half measures.” – Warren Buffett

99. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel

100. “Never depend on a single income, make an investment to create a second source.” Warren Buffet

101. “Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.”
     ― Warren Buffett
102. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
103. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
104. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
105. “As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.” — John Maynard Keynes
106. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
107. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
108. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
109. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
110. “Men, it has been well said, think in herds. It will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay
111. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
112. “No Price is too low for a bear or too high for a bull.” — Anonymous
113. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” Anonymous
114. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
115. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
116. “It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.” ― Robert Shiller
117. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
118. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
119. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
120. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
121. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
122. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results” — Warren Buffett
123. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
124. “Thousands of experts study overbought indicators, head-and-shoulder patterns, put-call ratios, the Fed’s policy on money supply…and they can’t predict markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack.” – Peter Lynch
125. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
126. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
127. “Know what you own, and know why you own it.” – Peter Lynch
128. “Liquidity is only there when you don’t need it.” -Old Proverb
129. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
130. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
131. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
132. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
133. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
134. “The rivers don’t drink their own water; Trees don’t eat their own fruits. The sun does not shine for itself, And flowers do not spread their fragrance For themselves. Living for others is a rule of nature” – Pope Francis
135. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
136. “An investment in knowledge pays the best interest.” – Benjamin Franklin.
137. “I believe the returns on investment in the poor are just as exciting as successes achieved in the business arena, and they are even more meaningful!” -Bill Gates
138. “Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation.” – Suze Orman
139. “The tax on capital gains directly affects investment decisions, the mobility, and flow of risk capital… the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.” – John F. Kennedy
140. “If all the economists were laid end to end, they’d never reach a conclusion. -George Bernard Shaw
141. “There are old traders and there are bold traders, but there are very few old, bold traders.”-Ed Seykota
142. “Let this scenario play out on its own, in its own fashion. As you watch it unfold, you will soon be grateful that you choose the peaceful path. Remember — those who live by the sword, die by the sword.”
143. “As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.” -Jim Cramer
144. “I rarely think the market is right. I believe non-dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.” -Mark Cuban
145. “Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” -Bruce Kovner
146. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
147. “The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.” -Philip Fisher
148. “I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.” -Richard Dennis
149. “The four most dangerous words in investing are: ‘this time it’s different.” -Sir John Templeton
150. “Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.” -Arnold Schwarzenegger