I am more scared now that I was at any point since I began trading, because I recognize how ephemeral success can be in this business. I know that to be successful, I have to be frightened. My biggest hits have always come after I have had a great period and I started to think that I knew something.

I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.

We have ripped the humanity out of our companies. It's threatening the very underpinnings of our society.

If trading is like chess, then macro is like three-dimensional chess.

Don't be a hero. Don't have an ego.

If life ever ceased to be an educational experience. I probably wouldn't get out of bed in the morning.

Trading gives you an incredibly intense feeling of what life is all about.