Things I've learned
Commentary: Looking ahead to the new year with hard lessons of 2008
By Todd Harrison
Last update: 6:06 p.m. EST Dec. 30, 2008
NEW YORK (MarketWatch) -- The carnage of 2008 forever changed the socioeconomic landscape and seismically shifted the collective perception of what we do, how we do it and who we do it with.
As we look back at the year that was and cast an eye toward what will be, a little perspective will most certainly go a long way. Herewith are some personal lessons learned, some of which relate to the market but most of which apply to life.
All you have is your name and your word.
Emotion is the enemy when trading.
The only difference between genius and madness is acceptance.
Adapt but don't conform.
The reaction to news is more important than the news itself.
Time is the most precious commodity.
Opportunities are made up easier than losses.
The purpose of the journey is the journey itself.
What goes around comes around.
The greatest wisdom is bred as a function of pain.
Bad times define good friends just as bad seasons define good fans.
There is a difference between having fun and being happy.
Be good to others and better to yourself.
Work to live. Don't live to work.
Profitability begins within.
Gratitude is latitude.
Seeing old friends is good for the soul.
When in doubt, sit it out.
Time is the arbiter of all fate.
The air of integrity gets thinner with age.
Free will is God's greatest gift.
Experience is a close second.
Negative energy is wasted energy.
You've got to have faith.
Hope isn't a viable investment vehicle.
The only difference between intervention and manipulation is communication.
One hand washes the other.
Good traders know how to make money but great traders know how to take a loss.
Where you stand is a function of where you sit.
Life is shaped by decisions made.
Take the high road. It's less crowded and boasts a much better view.
To appreciate where we are, you must understand how we got here.
The opposite of love isn't hate; it's apathy.
Stay out of debt.
The friction between opinions is where true education resides.
A dream is only as powerful as those who believe in it.
Money comes and goes.
The best way to build a growth company is by surrounding yourself with people who can themselves grow.
Tenacity and resolve are the hallmarks of success.
View obstacles as opportunities.
The only difference between a lesson and a mistake is the ability to learn from it.
The definition of an investment should never be a trade gone awry.
By the time you get to where you think you want to be, the journey will be over.