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Richard's Wisdom

March, 2016 Archives

Richard's Thoughts on Taking Action

Richard's Comments

 

In all my years of studying people and how they function, I believe one of the least understood area is that of thinking vs. action.

 

Sigmund Freud knew a great deal about this area, and he proved it when he wrote, "Denken ist probearbeit." Translated, this means "Thinking is rehearsing."

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Richard's Thoughts on Truth

By the Dow Theory Team

 

Richard's Comments

 

The piece I wrote on truth seems to have set off a storm of letters. Obviously, a lot of my subscribers are interested in the truth and the reason for telling (or avoiding) the truth. So I want to write a bit more on truth (which happens to be one of my favorite subjects).

 

I think it's not only morally right to stick with the truth, I believe it's necessary for your health to stay with the truth. I previously wrote that there is a close relationship between untruth (lies) and insanity. For just as a lie is a distortion of reality, a disease is a distortion of the physical.

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Richard's Thoughts on Investment Philosophy

By the Dow Theory Team

 

Richard's Comments

 

One reason why many investors can't make money (translation: they lose money) is that they have no clear idea of what they are trying to do. They have not developed an investment philosophy.

 

Take, for instance, the case of Charlie. A broker tells Charlie to buy Logovision and he buys it. A neighbor tips Charlie to buy into the company where he works, X-jet. Charlie buys it. Next a close friend tells Charlie that he personally has been buying Muni bonds like crazy. Charlie buys Munis. A year later Charlie has lost half his capital. He puts what's left into a real estate partnership. You know the rest.

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