100-Day Reading Sharing Plan — Day 59

The account has hit a new low recently. $Cleveland Cliffs(CLF.US) $Amazon(AMZN.US) $Novo Nordisk AS(NVO.US) $Unitedhealth(UNH.US) Mainly took four earnings report hits. There's really no way around it. Just wait patiently.

"A Random Walk Down Wall Street"

1. Investors can achieve quite substantial long-term returns simply by buying and holding a broadly diversified portfolio of stocks. What's truly hard to avoid is being tempted to put one's money into short-term, get-rich-quick speculative feasts.

2. The greatest talent is the ability to estimate the true value of things.

3. Even today, there are people trying to predict future stock prices by measuring sunspots, observing lunar phases, or measuring tremors along the San Andreas Fault.

4. Stock prices tend to follow trends; that is, stocks whose prices are rising often continue to rise, while stocks that are consolidating often continue to consolidate.

5. A true chartist, as long as there are charts to study, can't even be bothered to know what business a company is in or what industry it belongs to. In the eyes of a chartist, the "inverted bowl" or "pennant" pattern shown on the chart means exactly the same thing for Microsoft as it does for Coca-Cola.

Today is still the first day.