“Bear Market: a time when most people lose what they may have accidentally gained in the bull market.”
“Savings: the money people had before they started trying to invest it.”
“Long-term investor: patient fool; someone who should have sold a little sooner.”
“Stockbroker: salesman for stocks, bonds, mutual funds etc., a person who will never go broke.”
“Hot stock: stock everybody is buying; what your brokerage firm calls any stock it wants to sell.”
—Excerpts from A Fool's Glossary: A Fool and His Money. John Rothchild (Penguin, 1988)
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