The market is never wrong, only you are always wrong. In a bull market, everyone is a genius, but in a bear market, we only know who is swimming naked. The most powerful operation of my life was on October 24, 1929, when I unplugged the phone line, turned off the quoting machine, and went fishing at the beach for the whole day. He shorted in advance and made $100 million (equivalent to over $20 billion today), but many years later he said: What really saved me was not the 100 million, but the day I finally learned - when the whole world goes crazy, the only correct thing to do is to do nothing The highest level of trading is called 'selflessness'. When everyone is shouting 'if you miss the bus, it's gone', you can turn off your computer, go for a cup of coffee, take a walk with your dog, or sleep, and you have already defeated 99.99% of people. ——The words spoken by Livermore in his last public speech before the 1929 crash were later engraved on the tombstones of countless old traders;