Nicolas Darvas wrote the following passage in 1977:
Bitter experience taught me that I could not possibly win in the market if I allowed emotion to influence my decisions. So one of the first steps I took was to keep well away from the marketplace and insulate myself from its ever-changing moods.
While I continue to trade on Wall Street, I keep the market and its emotional atmosphere at arm’s length.
I do not want to know what people on Wall Street are thinking or saying. I am not interested in the latest business forecasts, analysts’ opinions, brokers’ views, or tipsters’ gossip.
The stock tables tell me everything I need to know.
It is WHAT STOCKS ARE DOING and NOT WHAT PEOPLE ARE SAYING that determine my actions.
This has, for a long time, been the cornerstone of my market approach and remains so today.
The modern-day translation: sometimes you need to turn off CNBC and just trust your damn charts.
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