Some quotes from great individuals for this weekend.

When deciding to sell, people have control over whether to give themselves pleasure or give themselves pain, and they tend to give themselves pleasure. In other words, they tend to sell winners and hang on to losers. It turns out to be a bad idea. – Daniel Kahneman

Gambling is a tax on ignorance. People often gamble because they think they can win, they’re lucky, they have hunches, that sort of thing, whereas in fact, they’re going to be remorselessly ground down over time. – Edward Thorp

After many years of studying Wall Street’s victors and victims, I must conclude that the American public still insists on losing its savings every time the old hook is baited with the immortal easy-money worm. After every smash, the blame is laid on the hook and not on the hunger. - Edwin Lefevre

Investing for the long run works only as long as people don’t believe it. – Peter Bernstein

Everybody in the world is a long-term investor until the market goes down. – Peter Lynch

Over the very long run, it is the economics of investing — enterprise — that has determined total return; the evanescent emotions of investing — speculation — so important over the short run, have ultimately proven to be virtually meaningless. – John Bogle

I think people trade too much, looking for short-term gains. But I don’t think you should hold stocks indefinitely. – Walter Schloss

$TOTL $CASS $BMRI