《股票作手回忆录·第五章·赚大钱靠坐得住·老火鸡》第14节
What old Mr. Partridge said did not mean much to me until I began to think about my own numerous failures to make as much money as I ought to when I was so right on the general market. The more I studied the more I realized how wise that old chap was. He had evidently suffered from the same defect in his young days and knew his own human weaknesses. He would not lay himself open to a temptation that experience had taught him was hard to resist and had always proved expensive to him, as it was to me. I think it was a long step forward in my education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements--that is, not in reading the tape but in sizing up the entire market and its trend.
注释摘要
这段文字在全书中具有里程碑意义，它标志着年轻的劳伦斯·利文斯顿开始从一名凭借天赋直觉的读纸带高手，向真正理解市场本质的投机者蜕变。要理解这一刻的分量，我们需要先回到1900年代华尔街的交易大厅，看看那些在富勒顿公司里晃荡的“纸带虫”们每天面对的是什么。 当年所谓的行情纸带，是一种通过电报线路将纽约证券交易所的实时成交价格打印在狭窄纸条上的装置。每一次价格变…