《股票作手回忆录·第五章·赚大钱靠坐得住·老火鸡》第4节
The game of beating the market exclusively interested me from ten to three every day, and after three, the game of living my life. Don’t misunderstand me. I never allowed pleasure to interfere with business. When I lost it was because I was wrong and not because I was suffering from dissipation or excesses. There never were any shattered nerves or rum-shaken limbs to spoil my game. I couldn’t afford anything that kept me from feeling physically and mentally fit. Even now I am usually in bed by ten. As a young man I never kept late hours, because I could not do business properly on insufficient sleep. I was doing better than breaking even and that is why I didn’t think there was any need to deprive myself of the good things of life. The market was always there to supply them. I was acquiring the confidence that comes to a man from a professionally dispassionate attitude toward his own method of providing bread and butter for himself. The first change I made in my play was in the matter of time. I couldn’t wait for the sure thing to come along and then take a point or two out of it as I could in the bucket shops. I had to start much earlier if I wanted to catch the move in Fullerton’s office. In other words, I had to study what was going to happen; to anticipate stock movements. That sounds asininely commonplace, but you know what I mean. It was the change in my own attitude toward the game that was of supreme importance to me. It taught me, little by little, the essential difference between betting on fluctuations and anticipating inevitable advances and declines, between gambling and speculating.
注释摘要
这一段是利弗莫尔借拉里·利文斯顿之口，对自己纽约生涯初期的一次诚实解剖。他主要讲了两件事：一是交易与生活之间的界限，二是他从“赌徒”向“投机者”转变的关键一步。要理解这段话的深意，我们得先回到1900年代华尔街的日常生活里去。 在当时，股票市场的正式交易时间是从上午十点到下午三点，中间没有休息。市场一收盘，整个金融区就迅速安静下来，经纪行的职员忙着核对账目…