Capital One financial sucks, just released a bunch of reserves, and now is going to be subject to interest and fee regulation courtesy of Uncle Sam. The "consumer" has been running up credit card debt having witnessed the market ramp, but there have been no structural remedies. There are plenty of reasons to hate this shitty company, not the least of which is their stupid Viking raider commercials, and the thought of the type of consumers to whom the company markets.
Capital One, what's on your balance sheet?
Anyhow, below is a picture I want to remember (click to enlarge). It's what a chart looks like while institutional investors clamber over one another for the escape hatch:
Truth — more precisely, an accurate understanding of reality — is the essential foundation for producing good outcomes.
- Ray Dalio, Principles
Good traders do not spend much time caring whether an institution or HFT is trying to game the system. They just decode the pattern and find ways to profit.
- Mike Bellafiore
Know where you are getting out if you are wrong. If you can answer [this], you will trade with confidence.
- Mark Fisher, The Logical Trader
The markets cannot endure even 50.01 percent bullishness before the price rises.
- Bill Williams
Whenever I have had the patience to wait for the market to arrive at what I call a “Pivotal Point” before I started to trade, I have always made money in my operations.
- Jesse Lauriston Livermore
Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.
- George Soros
... the numbers are the numbers. What you can argue are the qualitative perceptions of the participants, and how they're likely to act going forward.
- Kyle Bass, U. of Chicago - 3/6/2013
- Austan Goolsbee
Smart people learn from mistakes; really smart people learn from other people's mistakes, and in turn make smaller mistakes of their own.
- Mark Minervini
If your emotions are tied to whether a stock goes up or down you have already lost.
- Steven Spencer
It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.
- Charles Darwin
Agonizing over errors is a mistake, but acknowledging and studying them can be useful.
- Warren Buffett
I hated every minute of training, but I said, "Don't quit. Suffer now and live the rest of your life as a champion."
- Muhammad Ali
Every lake is different. If I were you I'd bite the bullet and hire a guide to get a jump on what works best.