“To avoid whipsaw losses, stop trading.”

— Ed Seykota

Source: Covel, Michael W., Trend Following: How Great Traders Make Millions in Up or Down Markets, FT Press (2007), page 59, ISBN 0-13-613718-0

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Ed Seykota 16

American commodities trader 1946

Ed Seykota (1946) American commodities trader

Source: Jenks, Philip, (Editor) 500 of the Most Witty, Acerbic and Erudite Things Ever Said About Money, Harriman House (December 2002), ISBN 1897597223 Read it here http://books.google.com/books?vid=ISBN1897597223&id=lERXBvyeeQ0C&pg=PA27&lpg=PA27&dq=seykota&sig=K97S8hGKxQmB6w7x79enj9tEGw4

“Though surely to avoid attachments for fear of loss is to avoid life.”

Lionel Shriver book We Need to Talk About Kevin

Source: We Need to Talk About Kevin

“Free trade is the serial killer of American manufacturing and the Trojan Horse of World Government. It is the primrose path to the loss of economic independence and national sovereignty. Free trade is a bright shining lie.”

Patrick Buchanan (1938) American politician and commentator

2000s, Where the Right Went Wrong (2004)

“Every generation of Americans since has had to reenact the loss of our innocence. Smog over L. A. was the loss of our innocence. Vietnam was the loss of our innocence. Gettysburg was the loss of our innocence. Ingrid Bergman’s baby was the loss of our innocence. Oklahoma City was the loss of our innocence. The World Trade Center was the loss of our innocence. Other nations are cynical. America has preferred the child’s game of “discovering” evil—Europe’s or Asia’s, her grandfather’s, even her own.”

Richard Rodríguez (1944) American journalist and essayist

Brown : The Last Discovery of America (2003)

“Decadence is the total loss of unconsciousness, which is the very basis of life. Could it think, the heart would stop beating.”

Fernando Pessoa (1888–1935) Portuguese poet, writer, literary critic, translator, publisher and philosopher

“The trade of insurance gives great security to the fortunes of private people, and by dividing among a great many that loss which would ruin an individual, makes it fall light and easy upon the whole society.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book V, Chapter I, Part III, p. 821.

“The events of this story are morally indefensible. But the greed that motivated the human actors—excluding of course the slaves themselves—was so overwhelming as to be irresistible. It is impossible for us today who condemn the slave trade to imagine any effective opposition to it in the 17th century. A parallel in our time would be the unstoppable trade in narcotics. We can't stop the supply because we can't stop the demand. To the limitless demand for labor in the new world the slave trade was a limitless response. Like drugs today, laws against it were powerless, because the profits were so great.”

Harry V. Jaffa (1918–2015) American historian and collegiate professor

Opposition to the slave trade did come in time, in the principles of the American Revolution, but not before slavery had formed deep roots in the economy and polity of the United States. The foreign slave trade was outlawed by the United States in 1808, and it was made a capital crime in 1820, but the trade continued right up until the Civil War. It is good however to remind ourselves that no black slave was sold to a white slave trader, on the west coast of Africa, who had not already been enslaved by a black African. Slavery was an equal opportunity employer!
2000s, God Bless America (2008), Slavery and the Human Story

“I will stop any trade deal that kills jobs or holds down wages – including the . I oppose it now, I’ll oppose it after the election, and I’ll oppose it as President.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Speech in Warren, Michigan (August 11, 2016)
Context: I will stop any trade deal that kills jobs or holds down wages – including the. I oppose it now, I’ll oppose it after the election, and I’ll oppose it as President.... I will stand up to China and anyone else who tries to take advantage of American workers and companies. And I’m going to ramp up enforcement by appointing, for the first time, a chief trade prosecutor, I will triple the number of enforcement officers, and when countries break the rules, we won't hesitate to impose targeted tariffs.

“Peace treaties signed by the vanquished are not freely signed. Men sign with a knife at their throat, they sign in spite of themselves, in order to avoid still greater losses; they sign as men surrender their purse when it is a case of your money or your life.”

François Fénelon (1651–1715) Catholic bishop

Les traités de paix ne couvrent rien, lorsque vous êtes le plus fort, & que vous réduisez vos voisins à signer le traité pour éviter de plus grands maux: alors il signe comme un particulier donne sa bourse à un voleur qui lui tient le pistolet sur la gorge.
Directions pour la conscience d'un roi (Paris: Estienne, 1775) p. 60; translation by A. Lentin, cited from Margaret Lucille Kekewich (ed.) Princes and Peoples: France and the British Isles, 1620-1714 (Manchester: Manchester University Press, 1994) p. 226. (c. 1694).

“When you go through a disappointment, when you go through a loss, don’t stop on that page. Keep moving forward. There’s another chapter in front of you, but you have to be willing to walk into it.”

Joel Osteen (1963) American televangelist and author

Source: I Declare: 31 Promises to Speak Over Your Life

“To avoid whipsaw losses, stop trading.”

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