The market is never wrong; the only one who is wrong is always yourself.

In a bull market, everyone is a genius; it's in a bear market that we know who is swimming naked.

The most impressive thing I did in my life was to unplug the phone line, turn off the ticker, and then go to the beach to fish all day on October 24, 1929.

He shorted in advance and made 100 million USD (equivalent to over 20 billion today), yet years later he said:

"What truly saved my life wasn't the 100 million, but the day I finally learned - when the whole world goes crazy, the only right action is: do nothing."

The highest realm of trading is called "no self."

When everyone is shouting "get on the bus or you'll miss it," if you can shut down your computer, go have a cup of coffee, walk your dog, or take a nap, you have already defeated 99.99% of people.

This sentence, spoken by Livermore during his last public speech before the great crash of 1929, was later engraved on the tombstones of countless old traders.