--- title: "Meaning & Key Takeaway of: Fear and hope remain the same; therefore…" description: "\"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..." image: "https://sms4smile.com/quotes/i/678/edwin-lefevre-18294_battlefields_fear-and-hope-remain-the-same-therefore_2973138.jpg" --- # Fear and hope remain the same; therefore the study of the… ![“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…” quote by Edwin Lefevre](https://sms4smile.com/quotes/i/678/edwin-lefevre-18294_battlefields_fear-and-hope-remain-the-same-therefore_2973138.jpg) [Download](https://sms4smile.com/quotes/i/678/edwin-lefevre-18294_battlefields_fear-and-hope-remain-the-same-therefore_2973138.jpg) [Open image](https://sms4smile.com/quotes/i/678/edwin-lefevre-18294_battlefields_fear-and-hope-remain-the-same-therefore_2973138.jpg) > “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.”” [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. 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. ★ ★ ★ ★ ★ No ratings yet [Battlefields](https://sms4smile.com/quotes/about/battlefields/) [Change](https://sms4smile.com/quotes/about/change/) [Customer](https://sms4smile.com/quotes/about/customer/) [Education](https://sms4smile.com/quotes/about/education/) [Fear](https://sms4smile.com/quotes/about/fear/) [Hope](https://sms4smile.com/quotes/about/hope/) [Made](https://sms4smile.com/quotes/about/made/) [Mistake](https://sms4smile.com/quotes/about/mistake/) [New york](https://sms4smile.com/quotes/about/new-york/) [New york stock](https://sms4smile.com/quotes/about/new-york-stock/) [New york stock exchange](https://sms4smile.com/quotes/about/new-york-stock-exchange/) [Past](https://sms4smile.com/quotes/about/past/) [People](https://sms4smile.com/quotes/about/people/) [Principles](https://sms4smile.com/quotes/about/principles/) [Psychology](https://sms4smile.com/quotes/about/psychology/) [Psychology Speculators](https://sms4smile.com/quotes/about/psychology-speculators-4587949/) [Remains](https://sms4smile.com/quotes/about/remains/) [Speculation](https://sms4smile.com/quotes/about/speculation/) [Speculation Based](https://sms4smile.com/quotes/about/speculation-based-1987920/) [Speculators](https://sms4smile.com/quotes/about/speculators/) [Speculators Valuable](https://sms4smile.com/quotes/about/speculators-valuable-4587950/) [Stock exchange](https://sms4smile.com/quotes/about/stock-exchange/) [Stock Speculation](https://sms4smile.com/quotes/about/stock-speculation-1987919/) [Strategy](https://sms4smile.com/quotes/about/strategy/) [Study](https://sms4smile.com/quotes/about/study/) [Successful](https://sms4smile.com/quotes/about/successful/) [Summing up](https://sms4smile.com/quotes/about/summing-up/) [Supposition](https://sms4smile.com/quotes/about/supposition/) [Thinking](https://sms4smile.com/quotes/about/thinking/) [Valuable](https://sms4smile.com/quotes/about/valuable/) [Weapons](https://sms4smile.com/quotes/about/weapons/) [Whole](https://sms4smile.com/quotes/about/whole/) [York Stock](https://sms4smile.com/quotes/about/york-stock/) ## Related quotes > [The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they…](https://sms4smile.com/quotes/edwin-lefevre/the-principles-of-successful-stock-speculation-are-based-on-the/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [It has become cheaper to look for oil on the floor of the New York Stock Exchange than in the ground.](https://sms4smile.com/quotes/t-boone-pickens/it-has-become-cheaper-to-look-for-oil-on-the-floor-of-the-new-york/) [T. Boone Pickens](https://sms4smile.com/quotes/author/t-boone-pickens/) > [Private prison companies are now listed on the New York Stock exchange and are doing quite well in a time of economic recession (and…](https://sms4smile.com/quotes/michelle-alexander/private-prison-companies-are-now-listed-on-the-new-york-stock/) [Michelle Alexander](https://sms4smile.com/quotes/author/michelle-alexander/) > [Political systems must love poverty-they produce so much of it. Poor people make easier targets for a demagogue. No Mao or even Jiang Zemin…](https://sms4smile.com/quotes/p-j-o-rourke/political-systems-must-love-poverty-they-produce-so-much-of-it-poor/) [P. J. O'Rourke](https://sms4smile.com/quotes/author/p-j-o-rourke/) > [First reporter to broadcast live from the floor of the New York Stock Exchange.](https://sms4smile.com/quotes/maria-bartiromo/first-reporter-to-broadcast-live-from-the-floor-of-the-new-york-stock/) [Maria Bartiromo](https://sms4smile.com/quotes/author/maria-bartiromo/) > [Hidden behind the facade of pompous jargon and noble affections, there is more sheer larceny per square foot on the floor of the New…](https://sms4smile.com/quotes/richard-ney/hidden-behind-the-facade-of-pompous-jargon-and-noble-affections-there/) [Richard Ney](https://sms4smile.com/quotes/author/richard-ney/) > [What's good for the United States is good for the New York Stock Exchange. But what's good for the New York Stock Exchange might…](https://sms4smile.com/quotes/william-mcchesney-martin/what-s-good-for-the-united-states-is-good-for-the-new-york-stock/) [William McChesney Martin](https://sms4smile.com/quotes/author/william-mcchesney-martin/) > [The borrowers of America and all the world turn to New York…It is to the quotations on the New York Stock Exchange that men…](https://sms4smile.com/quotes/charles-a-beard/the-borrowers-of-america-and-all-the-world-turn-to-new-york-it-is-to/) [Charles A. Beard](https://sms4smile.com/quotes/author/charles-a-beard/) > [Somehow, I don't think Jesus came to Earth to ring the bell at the New York Stock Exchange.](https://sms4smile.com/quotes/michael-moore/somehow-i-don-t-think-jesus-came-to-earth-to-ring-the-bell-at-the-new/) [Michael Moore](https://sms4smile.com/quotes/author/michael-moore/) > [Maybe one of the strangest opportunities was I got to ring the closing bell on the New York Stock Exchange.](https://sms4smile.com/quotes/cassandra-peterson/maybe-one-of-the-strangest-opportunities-was-i-got-to-ring-the/) [Cassandra Peterson](https://sms4smile.com/quotes/author/cassandra-peterson/) > [It is fundamentally important that Grasso resign so that the New York Stock Exchange can restore its moral authority.](https://sms4smile.com/quotes/phil-angelides/it-is-fundamentally-important-that-grasso-resign-so-that-the-new-york/) [Phil Angelides](https://sms4smile.com/quotes/author/phil-angelides/) > [All this plan does is make everybody a capitalist. I know that the New York Stock Exchange says there are 25 million shareholders in…](https://sms4smile.com/quotes/louis-o-kelso/all-this-plan-does-is-make-everybody-a-capitalist-i-know-that-the-new/) [Louis O. Kelso](https://sms4smile.com/quotes/author/louis-o-kelso/) > [I've been a woman in a man's world now for 30 years. I was the first person to broadcast from the floor of the…](https://sms4smile.com/quotes/maria-bartiromo/i-ve-been-a-woman-in-a-man-s-world-now-for-30-years-i-was-the-first/) [Maria Bartiromo](https://sms4smile.com/quotes/author/maria-bartiromo/) > [Some people who don't like guns can't stand the idea of so many gun owners in one place (at gun shows) buying and selling…](https://sms4smile.com/quotes/dave-kopel/some-people-who-don-t-like-guns-can-t-stand-the-idea-of-so-many-gun/) [Dave Kopel](https://sms4smile.com/quotes/author/dave-kopel/) > [Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics,…](https://sms4smile.com/quotes/edwin-lefevre/nowhere-does-history-indulge-in-repetitions-so-often-or-so-uniformly/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) ## More by Edwin Lefevre > [If a stock doesn’t act right don’t touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it…](https://sms4smile.com/quotes/edwin-lefevre/if-a-stock-doesn-t-act-right-don-t-touch-it-because-being-unable-to/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [“If you do not know who you are, the stock market is an expensive place to find out.”](https://sms4smile.com/quotes/edwin-lefevre/if-you-do-not-know-who-you-are-the-stock-market-is-an-expensive-place/) [Edwin Lefèvre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [When you find that it fails to respond adequately to your buying you don't need any better tip to sell.](https://sms4smile.com/quotes/edwin-lefevre/when-you-find-that-it-fails-to-respond-adequately-to-your-buying-you/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [When the man who ought to want a stock doesn't want it, why should I want it?](https://sms4smile.com/quotes/edwin-lefevre/when-the-man-who-ought-to-want-a-stock-doesn-t-want-it-why-should-i/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [Being broke is a very efficient educational agency.](https://sms4smile.com/quotes/edwin-lefevre/being-broke-is-a-very-efficient-educational-agency/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [No man can always have adequate reasons for buying or selling stocks daily - or sufficient knowledge to make his play an intelligent play.](https://sms4smile.com/quotes/edwin-lefevre/no-man-can-always-have-adequate-reasons-for-buying-or-selling-stocks/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [“Speculators buy the trend; investors are in for the long haul; "they are a different breed of cats." One reason that people lose money…](https://sms4smile.com/quotes/edwin-lefevre/speculators-buy-the-trend-investors-are-in-for-the-long-haul-they-are/) [Edwin Lefèvre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [One of the most helpful things that any body can learn is to give up trying to catch the last eighth - or the…](https://sms4smile.com/quotes/edwin-lefevre/one-of-the-most-helpful-things-that-any-body-can-learn-is-to-give-up/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [The speculators deadly enemies are: Ignorance, greed, fear and hope. All the statute books in the world and all the rules of all the…](https://sms4smile.com/quotes/edwin-lefevre/the-speculators-deadly-enemies-are-ignorance-greed-fear-and-hope-all/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [If a man didn't make mistakes he'd own the world in a month.But if he didn't profit by his mistakes he wouldn't own a…](https://sms4smile.com/quotes/edwin-lefevre/if-a-man-didn-t-make-mistakes-he-d-own-the-world-in-a-month-but-if-he/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics,…](https://sms4smile.com/quotes/edwin-lefevre/nowhere-does-history-indulge-in-repetitions-so-often-or-so-uniformly/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [The public always wants to be told.](https://sms4smile.com/quotes/edwin-lefevre/the-public-always-wants-to-be-told/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [As I have said a thousand times, no manipulation can put stocks down and keep them down.](https://sms4smile.com/quotes/edwin-lefevre/as-i-have-said-a-thousand-times-no-manipulation-can-put-stocks-down/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [It takes a man a long time to learn all the lessons of all of his mistakes. They say there are two sides to…](https://sms4smile.com/quotes/edwin-lefevre/it-takes-a-man-a-long-time-to-learn-all-the-lessons-of-all-of-his/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) > [The big money in booms is always made first by the public - on paper. And it remains on paper.](https://sms4smile.com/quotes/edwin-lefevre/the-big-money-in-booms-is-always-made-first-by-the-public-on-paper/) [Edwin Lefevre](https://sms4smile.com/quotes/author/edwin-lefevre/) [Explore all 35 Edwin Lefevre quotes ](https://sms4smile.com/quotes/author/edwin-lefevre/) ## More Battlefields quotes > [Talented people can predict with great accuracy what's about to happen just a tiny bit ahead of their competitors. It might be two seconds…](https://sms4smile.com/quotes/kevin-maney/talented-people-can-predict-with-great-accuracy-what-s-about-to/) [Kevin Maney](https://sms4smile.com/quotes/author/kevin-maney/) > [Our civilization, bequeathed to us by fierce adventurers, eaters of meat and hunters, is so full of hurry and combat, so busy about many…](https://sms4smile.com/quotes/james-joyce/our-civilization-bequeathed-to-us-by-fierce-adventurers-eaters-of/) [James Joyce](https://sms4smile.com/quotes/author/james-joyce/) > [Men grow old quickly on the battlefield.](https://sms4smile.com/quotes/napoleon-bonaparte/men-grow-old-quickly-on-the-battlefield/) [Napoleon Bonaparte](https://sms4smile.com/quotes/author/napoleon-bonaparte/) > [We have won an armistice on a single battlefield, not peace in our world. We may not now relax our guard nor cease our…](https://sms4smile.com/quotes/dwight-d-eisenhower/we-have-won-an-armistice-on-a-single-battlefield-not-peace-in-our/) [Dwight D. Eisenhower](https://sms4smile.com/quotes/author/dwight-d-eisenhower/) > [Madaming is the sort of thing that happens to you - like getting a battlefield commission or becoming the dean of women at Stanford…](https://sms4smile.com/quotes/sally-stanford/madaming-is-the-sort-of-thing-that-happens-to-you-like-getting-a/) [Sally Stanford](https://sms4smile.com/quotes/author/sally-stanford/) > [It is unfortunate when final decisions are made by chieftains headquartered miles away from the front, where they can only guess at conditions and…](https://sms4smile.com/quotes/attila-the-hun/it-is-unfortunate-when-final-decisions-are-made-by-chieftains/) [Attila the Hun](https://sms4smile.com/quotes/author/attila-the-hun/) > [There are courageous and honest men enough in both sections to fight. There is no question of courage involved. The people of both sections…](https://sms4smile.com/quotes/robert-toombs/there-are-courageous-and-honest-men-enough-in-both-sections-to-fight/) [Robert Toombs](https://sms4smile.com/quotes/author/robert-toombs/) > [Energy will be the immediate test of our ability to unite this Nation, and it can also be the standard around which we rally.…](https://sms4smile.com/quotes/jimmy-carter/energy-will-be-the-immediate-test-of-our-ability-to-unite-this-nation/) [Jimmy Carter](https://sms4smile.com/quotes/author/jimmy-carter/) > [The women has her own battlefield with every child she brings into the world she fights a battle for the nation.](https://sms4smile.com/quotes/adolf-hitler/the-women-has-her-own-battlefield-with-every-child-she-brings-into/) [Adolf Hitler](https://sms4smile.com/quotes/author/adolf-hitler/) > [What's always got me is the fact that when people talked on the telly about Iraq, before Afghanistan kicked off, you'd get only these…](https://sms4smile.com/quotes/ross-kemp/what-s-always-got-me-is-the-fact-that-when-people-talked-on-the-telly/) [Ross Kemp](https://sms4smile.com/quotes/author/ross-kemp/) > [I was in the midst of it all - saw war where war is worst - not on the battlefields, no - in the…](https://sms4smile.com/quotes/walt-whitman/i-was-in-the-midst-of-it-all-saw-war-where-war-is-worst-not-on-the/) [Walt Whitman](https://sms4smile.com/quotes/author/walt-whitman/) > [A dance performance is rather like going out into a battlefield. You have to hold the attention of as many as five to 10,000…](https://sms4smile.com/quotes/yamini-krishnamurthy/a-dance-performance-is-rather-like-going-out-into-a-battlefield-you/) [Yamini Krishnamurthy](https://sms4smile.com/quotes/author/yamini-krishnamurthy/) > [ \[President Johnson\] had the political will to say that having one in five Americans living in the kind of abject conditions their fellow citizens… ](https://sms4smile.com/quotes/anna-quindlen/president-johnson-had-the-political-will-to-say-that-having-one-in/) [Anna Quindlen](https://sms4smile.com/quotes/author/anna-quindlen/) > [ \[on L. Ron Hubbard\] I'm not in favor of his religion by any means. But he wrote a book called 'Battlefield Earth' that was… ](https://sms4smile.com/quotes/mitt-romney/on-l-ron-hubbard-i-m-not-in-favor-of-his-religion-by-any-means-but-he/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [Digiphrenia - how technology lets us be in more than one place - and self - at the same time. Drone pilots suffer more…](https://sms4smile.com/quotes/douglas-rushkoff/digiphrenia-how-technology-lets-us-be-in-more-than-one-place-and-self/) [Douglas Rushkoff](https://sms4smile.com/quotes/author/douglas-rushkoff/) [Browse all 231 Battlefields quotes ](https://sms4smile.com/quotes/about/battlefields/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "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. 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