Joseph de la Vega was a very successful Jewish merchant, speculator, philanthropist, and poet. In 1688, he wrote "Confusion of Confusions," which is one of the very first books on the subject of speculation. A great takeaway from the book was his 4 fundamental rules of speculating in shares.

His rules:

(from Wikipedia)

1. The first rule in speculation is: Never advise anyone to buy or sell shares. Where guessing correctly is a form of witchcraft, counsel cannot be put on airs.

2. The second rule: Accept both your profits and regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favorable circumstances will last.

3. The third rule: Profit in the share market is goblin treasure: at one moment, it is carbuncles, the next it is coal; one moment diamonds, and the next pebbles. Sometimes, they are the tears that Aurora leaves on the sweet morning's grass, at other times, they are just tears.

4. The fourth rule: He who wishes to become rich from this game must have both money and patience.

This is a great add to your collection.

Here's the book.





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1 Comment so far

  1. none on April 3, 2018 12:46 pm

    Subject: Cave in number on DXY 88.253 04032018

    The DXY inflection point has move to 88.253 this is a ‘cave in’ number for the market, suggesting a yearly move lower of 17% +/-.

    This would be about nearing the 75-76 level DXY.

    This recent break of a pass 3 year low point points towards a 4 year lower trend from the 2017 time frame high print.


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