An quotation from an old pro trend follower:
“Why do people think they’re smarter than the market long-term? What gives them that confidence? I guess people feel dumb if they can’t predict what the market is going to do in the short term. They’re too proud to admit they don’t know what to do when they’re wrong. They don’t have the capacity to understand the digits that are scrolling by on the bottom of the television. I don’t. It’s too much noise. That’s why we rely on our system.”
Who is being quoted? Hint: he did not start trading until his late thirties.
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