In my experience, selling a put is much safer than buying a stock. -Kyle Rosen (Boston Capital Mgmt., Barron’s 8/23/04)

It is not the strongest of the species (think “traders”) that survive, nor the most intelligent, but the one most responsive to change. – Charles Darwin

Unless you love EVERYBODY, you can’t sell ANYBODY. – (From Jerry Maguire, 1996)

Never tell people how to do things. Tell then what to do and they will surprise you with their ingenuity. – Genreral George S. Paton, Jr. (U.S. Army field commander WWII, 1885-1945)

In business, the competition will bite you if you keep running; if you stand still, they will swallow you. – William Knudsen (Former president of GM) Markets exhibit the traits of  complex adaptive systems, and the Darwinian implications of this model suggest investors must evolve to suite the changing financial environment.

While one person hesitates because he feels inferior, the other is busy making mistakes and becoming superior. – Henry C. Link (Industrial psychologist, author, Psychological Corporation, 1889-1952)

Live beyond your means; then you’re forced to work hard, you have to succeed. – Edward G. Robinson (American actor) I’m personally intrigued by this quote because I grew up with the mantra “don’t live beyond your means.” Guess I’ll have to rethink some assumptions.

The first rule is not to lose. The second rule is not to forget the first rule. – Warren Buffet (CEO Berkshire Hathaway, investor & philanthropist, b. 1930) This cryptic advice from the Oracle of Omaha is easier preached than practiced. Works well with “let your winners run and cut your loses.”

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton [Friedman]: regarding the Great Depression, you’re right; we did it. We’re very sorry. But thanks to you, we won’t do it again.” – Ben Bernanke, (Fed Chairman 2006-, 11/8/02 speech…