4/27/2021 0 Comments The Money Game Adam Smith Pdf
The long term is a series of short terms and in the long run we are all dead.Nothing contained on the Website shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.Here are some of the notes I made from the book: The book is about image and reality and identity and anxiety and money.Game theory is an attempt to quantify and work through the actions of players in a game, to measure their options continuously.
The Money Game Adam Smith Series Of ShortTry to guess better than the crowd how the crowd will behave. The real object of the game is not money, it is the playing of the game itself. A man who knows himself can step outside himself and watch his own reactions like an observer. If you dont know who you are, this is an expensive place to find out. All the charts, technical analysis are the statisticians attempts to describe an emotional state. There is always stock somewhere that is going up more than the one you just bought. The greed itch begins when you see stocks move that you dont own. The market has a way of inducing humility in even very successful students. ![]() Every day is a new day and a new set of continuously measurable options. Being in the right place at the right time is part of the game. Repeated shocks will give you anxiety, and anxiety is the enemy of identity, and without identity there is no serenity. If you really love playing the game, any action is better than inaction, and sometimes inaction is the proper course, if it has been taken after measuring all the measurable options. If a decision is made not to make a decision, that is just as much a decision as a decision which initiates action. The more you grow, the harder it is to keep the percentage of growth constant or increasing, because the base gets so big. There are, at any one moment, only a few stocks that have a maximum potential, and you are not smart enough to be able to follow more than a handful of stocks at a time. Find smart people, because if you can do that, you can forget a lot of the other rules. Where there is no skepticism, there is almost no one left to sell to. The market will not go up unless it goes up, nor will it go down unless it goes down, and it will stay the same unless it does either. Can the footprints of price movements really predict the future If truly and universally they could, they soon would not.
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