What I Learned Losing a Million Dollars (Brendan Moynihan and Jim Paul, 1994)

  • You will never get rich being a technician.
  • Losses
    • Internal
      • Self-contrl, esteem, love, mind
      • Subjective
      • Stages
        1. Denial 
        2. Anger 
        3. Bargaining 
        4. Depression 
        5. Acceptance
    • External
      • Bet, game, contest, money
      • Objective
  • Risks
    • Inherit risk
      • Natural occurence in both unorganised market and organised markets.
    • Created risk
      • The arbitrary invention of a potential monetary loss which otherwise would not have existed.
  • Characteristic of a crowd
    • A sentiment of invincible power
    • Contagion
    • Suggestibility

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