It’s better to cut and start over, than let losses ride.Īnd the idea that you have to be “in it to win it” is for suckers who haven’t learned that it’s better to be square - have no position - than to stay in for no other reason. That requires you to take on more risk than what might suit your trading style, leaving you more vulnerable to bigger losses.īeing “patient,” until the market does what it’s “supposed” to do, often doesn’t work. If you lose $1,000 one day, then you have to make $3,000 the next day just to get back on track. Say you had to average a gain of $1,000 a day to make budget. He goes on: “Greed, in all of its forms - greed for life, for money, for love, knowledge - has marked the upward surge of mankind.” Greed clarifies, cuts through and captures the essence of the evolutionary spirit.” “The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Gekko is best known for the line: “Greed is good.” True enthusiasts might annoyingly tell you, however, that he didn’t actually say that.
“The only movie quoted more in my lifetime is ‘Caddyshack,’” Hogan said, referring to the 1980 comedy starring Chevy Chase and Rodney Dangerfield. Hogan said people in the industry who were born after the movie came out will often quote Gekko.
“If not for his malfeasance, you’d want to be that person.”Īnd Gekko’s appeal spans multiple generations. “Even though his character is obviously evil, he’s played in a very stylish and aspirational fashion,” said Art Hogan, chief market strategist at National Securities Corp.
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