《股票作手回忆录·第六章·旧金山地震·做空联合太平洋》第18节
It was not that all I needed to learn was not to take tips but follow my own inclination. It was that I gained confidence in myself and I was able finally to shake off the old method of trading. That Saratoga experience was my last haphazard, hit-or-miss operation. From then on I began to think of basic conditions instead of individual stocks. I promoted myself to a higher grade in the hard school of speculation. It was a long and difficult step to take.
注释摘要
这是全书思想密度最高的段落之一，它标志着主角投机生涯中一次根本性的认知断裂与重生。表面上他是在总结萨拉托加那笔交易——因为听从朋友 Harding 的劝阻而放弃自己的看涨判断，结果错失利润、反遭损失——但他说得很清楚，这个教训的实质，远不止“不要听信他人意见”这么简单。 有必要先还原一下 1906 年前后华尔街的信息生态。那时没有 SEC，没有内幕交易管制…