Battlefields Quote by Edwin Lefevre
“Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. I think the clearest summing up of the whole thing was expressed by Thomas F. Woodlock when he declared: “The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.””
About This Quote
Source Book: The Great Crash, 1929 by John Kenneth Galbraith, 1955
Speculative markets repeat human mistakes despite changing tools; understanding psychology remains crucial.
In simple terms: People repeat mistakes; study psychology.
Key Takeaway
Study market psychology.
Themes
finance
psychology
history
Mood
cautious
analytical
Type
advisory
historical
When to use this quote
- trading
- investment
- risk management
- policy making
Key Concepts
behavioral economics
risk perception
Questions to Reflect On
- How can investors mitigate bias?
- What lessons apply today?
A Different Perspective
Human behavior can be irrational despite data.
