Steve Burns

@SJosephBurns • 970,082 subscribers

I tweet about trading, financial markets, & financial freedom. I also share what I find inspiring & motivating. I’m a trader & the founder of https://t.co/TT0duLcHc3

Live Cam

Steve Burns

Shorts

“If you’re going to trade using models then you just slavishly use the model. You do whatever it says no matter how smart or dumb you think it is in that moment. And that turned out to be a wonderful decision.” — Jim Simons

“Big opportunities in life have to be seized.” — Warren Buffett

Warren Buffett: "You want to enjoy every day. You want to have a job you love — and you want to work with people you like and admire and trust. If you've got that, you are a long way home."

Charlie Munger: "We tend to judge by the past record. By and large, if the thing has a lousy past record and a bright future, we're going to miss the opportunity."

Videos

Watch Anya Live

When someone asks me what a stop loss is I show them this.

Charlie Munger: “Berkshire would’ve been a lot bigger if we had used leverage, but we would be sweating at night.” “And it’s crazy to sweat at night…” (pause) Warren Buffett: “Over financial things.” 😂😂😂

Warren Buffett: “The secret to life is weak competition.” “How do you beat Bobby Fischer? You play him at any game except chess.”

“To be successful, you don't have to be special. You just have to be what most people aren't - consistent, determined and willing to work for it. No shortcuts." — Tom Brady

Why Warren Buffett was so much richer than Charlie Munger: Charlie Munger: “Well, he got an early start, he was much smarter and he worked harder. Tell me why was Albert Einstein poorer than I was?” 😂😂😂

Charlie Munger: "If you just get up every morning and keep plugging [away] and have some discipline and keep learning, it's amazing how it works out okay." "I did not intend to get rich — I wanted to get independent — and just overshot."

Late billionaire trader Jim Simons explains alpha:

Charlie Munger: "Never underestimate the man who overestimates himself. These weird guys who overestimate themselves occasionally knock it right out of the park."

Trading against Algos:

Jim Simons breaks down one of the best techniques in trading (using uncorrelated signals):

Warren Buffett: "The second half of your life should be better than your first half. You should be wiser when you get older."

Stanley Druckenmiller explains why you must sell when valuation disconnects completely from rational fundamentals — even if the company is incredible. Druckenmiller did it with $NVDA. If a big correction comes, you can re-enter.

“The biggest mistake investors make is they invest in the present instead of looking forward.” — Stanley Druckenmiller

Warren Buffett: "You don't want to buy things that are cheap. You want to buy things that are good. It's much better to buy something that's good at a fair price than something that is cheap at a bargain price."

Dr. David Paul explains how you’re 10 trades away from becoming consistently profitable at trading.

"Diversification makes very little sense for anyone who knows what they’re doing." — Warren Buffett