The 1987 Oliver Stone movie “ Wallstreet ” is arguably the most iconic movie related to the stock market .
It immortalized Michael Douglas in his role as Gordon Gekko, a ruthless, cutthroat investor with seemingly unrestrained greed.
We all know his "Greed is good" speech and the cultural impact it has had, but what can we learn from Gekko as an investor?
Here are 6 quotes to live by:
“The most valuable commodity I know of is information”
Information is knowledge and knowledge is power.
We live in a world where today’s high-tech gadget can be useless tomorrow.
Know the industries, know the markets, know the pitfalls and traps that might come your way.
The more thorough your due diligence is, the better.
“I don’t throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought.” // "I look at a hundred deals a day. I pick one."
Again: Research, research, research.
Gordon Gekko is not the type of person to leave his investment strategy to lady luck and so shouldn’t you.
Sure, social media platforms like Reddit and its communities have trivialized YOLO types of investment but remember that you are not gambling. You are investing.
“Don’t run when you lose, don’t whine when it hurts. It’s like first grade. No one likes a cry baby.”
You can do all the research you want and still lose.
The market may prove itself to operate in an irrational manner at times and, believe us, no one has a 100% consistent winning rate.
You will have some more fight in you after a loss so, get up, dust off and reengage.
“I don’t like losses, sport. Nothing ruins my day more than losses.”
Sure, any investor is bound to lose sometimes, and, sure, many people will tell you loses are to be taken as a learning experience, but surely there are better ways to learn so keep a trading journal, review your plays, and never make the same mistakes again.
“Lunch is for wimps”
More often than not, on the route to financial freedom, hard work and dedication simply won’t suffice. In the literal sense, Gordon was 100% focused on his daily activities and skipped lunch, while figuratively he stayed hungry for more.
So, know this: stay hungry and be prepared because getting there may also take sacrifice.
“Money never sleeps”
The market might be closed but that shouldn’t stop you from scouring for new opportunities or finding new avenues of investment.
From Crypto to Forex, to straight up doing more research, remember to spend your time wisely.
“The point is, ladies and gentlemen, that greed – for lack of a better word – is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms – greed for life, for money, for love, knowledge – has marked the upward surge of mankind.”
We are not here to justify greed, we are just saying that whatever your personal and investment goals are, you should aim at being a cut above what you were yesterday.
You should have the drive to become a little bit better every day and the willingness to make sacrifices for what you believe in and what you set your sights on.
Be greedy in what concerns your goals and your self-improvement, but just don't do it at any cost because... well... we all know how that turned out for Gordon.