Gekko is best known for the line: “Greed is good.” True enthusiasts might annoyingly tell you, however, that he didn’t actually say that.
Gordon Gekko was a bad guy in a movie released 32 years ago, and yet he is still widely quoted on Wall Street today. Played by Michael Douglas in an Oscar-winning performance in the 1987 film “Wall Street,” Gekko’s charisma and success was something for people in the industry to aspire to. He was the villain, but a lot of what he said echoed real-life lessons learned, and was passed down on trading desks for years.
Here’s the actual quote: Note: The “greed” line isn’t listed, partly because it’s over-quoted, but mostly because it didn’t quite apply to a lesson learned during the nearly 11 years I spent in the industry. And the idea that you have to be “in it to win it” is for suckers who haven’t learned that it’s better to be square — have no position — than to stay in for no other reason.2. “I don’t throw darts at a board. I bet on sure things. Read Sun Tzu, ‘The Art of War.’ Every war is won before it is ever fought.” One might argue that there are no sure things. But that’s not exactly the point.
3. “First lesson in business is: Don’t get emotional about stock, clouds your judgement.” Easier said than done, but this might be the quote that rings the most true, and about more than just the financial markets. 4. “Money never sleeps, pal.” When “Wall Street” came out, there was no official premarket or after-hours trading in the stock market, but that didn’t mean money took the night off. News/information that could move the market was 24/7.
5. “It’s all about bucks, kid. The rest is conversation.” That quote doesn’t mean, to me, that money is the most important thing in life. The point is that trading, or investing, isn’t about being right or wrong about where the market is going, it’s about making money, because it’s always better to be wrong and make money than be right and lose.
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