What is the single, most effective piece of financial advice you've ever received?

you get what you want out of the markets. by ed seykota

I would add "if you have the time".

 

Learn the markets, no one will look after your money better than yourself. Everyone else will have their hands in your pockets.

 

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Well Stock Traders Almanac[book by Hirsch]lumps all the years together some times. Great book; but bull markets + bear markets differ so much i dont treat them the same @all.Another difference in the single stock markets, usually a single stock merger will not hurt to bad, unless over leveraged in a bear move..... As far as a single piece of advice , i wish it were that simple

 

Always thought of that quote as completely asinine.

So everyone who tried and failed wanted to fail? Complete nonsense.
I know guys who would have literally cut off their sack to succeed but it just never worked out despite all their hard work and effort.

 

Yeah, I should have done that since 2009. Stupid me. Shorting...

 

Don't day trade.

 

That Benjamin Franklin quote is pure gold!

 

Misers get a bad rap. That's producer's propaganda. Spendthrift is the way to be.

 

I think some very wealthy people have violated this principle.

 

Greed makes the markets! You could say tolerance of greed is the transition point between a central-planned and a free market economy.