ADAM SMITH THE MONEY GAME

Few interesting excerpts from the book:

We are all at a wonderful party, and by the rules of the game we know at some point in time the Black horsemen will burst through the great terrace doors to cut down the revelers; those who leave early may be saved, but the music and wines are so seductive that we do not want to leave, but we do ask, “What time is it? What time is it?” Only none of the clock have any hands.

The irony is that this is the money game and money is the way we keep score. But the real object of the game is not money; it is playing of the game itself. For the true players, you could take all the trophies away and substitute plastic heads or Whale’s teeth; as long as there is a way to keep score, they will play.

If you do not know who you are, this is an expensive place to find out.

You can have no preconceived ideas. There are fundamentals in the market place, but the unexplored area is the emotional one. All the charts and breadth indicators and technicals are the statisticians attempt to describe an emotional state.