50 مقولة خالدة عن الاستثمار والحياة
"Time is more important than price."
— William Gann
"Every movement in the market is the result of a natural law and of a Cause which exists long before the Effect."
— William Gann
"Knowledge gives a man nerve, makes him bold, and enables him to act at the right time."
— William Gann
"Time is the most important factor in trading. Markets move in cycles, and understanding these time cycles allows you to predict turning points with greater accuracy."اقرأ التحليل الكامل →
"When price and time are squared, a change in trend is imminent. This mathematical relationship between price movement and time elapsed reveals hidden market structure."اقرأ التحليل الكامل →
"The 45-degree angle, or 1x1 line, is the most important. It represents a balanced relationship where price moves one unit per time unit. Angles above show strength; below show weakness."اقرأ التحليل الكامل →
"The Square of Nine arranges numbers in a spiral pattern, revealing price levels of support and resistance. Key angles on the square indicate where prices are likely to reverse."اقرأ التحليل الكامل →
"Never risk more than 10% of capital on a single trade. Always use stop-loss orders. Never let a profit turn into a loss. Never average down on losing positions."اقرأ التحليل الكامل →
"Markets follow natural laws and mathematical principles. Understanding geometry, proportions, and vibrations reveals the hidden order in seemingly chaotic price movements."اقرأ التحليل الكامل →
"A trend is defined by higher highs and higher lows in an uptrend, lower highs and lower lows in a downtrend. Never trade against the main trend."اقرأ التحليل الكامل →
"Markets typically retrace 50%, 33%, or 25% of a move before continuing. The 50% retracement is the most important level for support and resistance."اقرأ التحليل الكامل →
"Create master charts for each market showing all major highs and lows across decades. These charts reveal the true structure and cycles governing that market."اقرأ التحليل الكامل →
"Wait for the right setup. Most traders lose because they trade too often. Discipline means following your rules even when your emotions tell you otherwise."اقرأ التحليل الكامل →
"Never overpay for a security, no matter how exciting the story. The price you pay determines your return. Discipline in valuation is the foundation of investment success."اقرأ التحليل الكامل →
"Always estimate the intrinsic value of a business before investing. Compare price to value, not price to past price. The gap between price and value is where profits are made."اقرأ التحليل الكامل →
"Use conservative assumptions in your valuation. Optimistic projections lead to overpaying. It is better to underestimate value and be pleasantly surprised than to overestimate and be disappointed."اقرأ التحليل الكامل →
"Invest in businesses with durable competitive advantages, strong cash flows, and management integrity. Quality businesses compound wealth over time and reduce downside risk."اقرأ التحليل الكامل →
"Before investing, identify the moat — the sustainable competitive advantage that protects the business from competitors. No moat means no long-term edge."اقرأ التحليل الكامل →
"Not all earnings are equal. Look for recurring, cash-backed earnings rather than accounting profits. High-quality earnings are predictable, sustainable, and convertible to free cash flow."اقرأ التحليل الكامل →
"The most successful investors stay within their circle of competence. Know what you understand well and resist the temptation to venture outside it."اقرأ التحليل الكامل →
"Surface-level knowledge is dangerous in investing. Develop deep expertise in your areas of focus. True understanding means knowing what could go wrong."اقرأ التحليل الكامل →
"Expand your circle of competence gradually over time. Each new area of expertise adds potential opportunities, but only if mastered thoroughly."اقرأ التحليل الكامل →
"Markets are driven by fear and greed. The disciplined investor exploits these emotions rather than being controlled by them. Emotional control is the key competitive advantage."اقرأ التحليل الكامل →
"Understanding crowd psychology is essential. When everyone agrees, the opportunity has usually passed. The best time to act is when the crowd is most fearful or most confident."اقرأ التحليل الكامل →
"The best investments often feel uncomfortable because they go against popular opinion. If everyone loves a stock, it's probably overpriced. If everyone hates it, investigate."اقرأ التحليل الكامل →
"Before considering how much you can make, consider how much you can lose. Risk management is not about avoiding risk entirely, but about understanding and controlling it."اقرأ التحليل الكامل →
"The size of your position should reflect your conviction and the risk involved. Never bet so large that a single mistake can wipe out your portfolio."اقرأ التحليل الكامل →
"The cardinal rule of investing: buy only when the price is significantly below your conservative estimate of intrinsic value. This builds in protection against error."اقرأ التحليل الكامل →
"The stock market is a no-called-strike game. You don't have to swing at every pitch. Wait for the fat pitch — the opportunity that offers exceptional risk-reward."اقرأ التحليل الكامل →
"Never invest in anything you don't fully understand. Thorough research is the foundation of every sound investment decision."اقرأ التحليل الكامل →
"Have clear, pre-defined sell criteria. Sell when: your thesis is broken, valuation is fully realized, or a significantly better opportunity appears."اقرأ التحليل الكامل →
"Regularly review whether your original reasons for owning a stock still hold. If the facts change, change your mind. Holding a broken thesis is the costliest mistake."اقرأ التحليل الكامل →
"After every sell, review the outcome. Did you sell too early, too late, or at the right time? Post-mortems on sell decisions improve future judgment."اقرأ التحليل الكامل →
"Draw insights from multiple disciplines — psychology, history, mathematics, and science — to build a lattice of mental models for better investment decisions."اقرأ التحليل الكامل →
"Think in probabilities, not certainties. Every investment has a range of possible outcomes. Weight your decisions by the expected value of each scenario."اقرأ التحليل الكامل →
"Evaluate management by their actions, not their words. Look for a track record of capital allocation, shareholder communication, and aligned incentives."اقرأ التحليل الكامل →
"Understand the industry structure before evaluating any company. Industry economics often matter more than company-specific factors in determining returns."اقرأ التحليل الكامل →
"The most important skill for a CEO is capital allocation. Evaluate how management deploys capital — do they create or destroy value with their decisions?"اقرأ التحليل الكامل →
"The principles that make you a great investor — patience, discipline, humility, and continuous learning — are the same principles that lead to a great life."اقرأ التحليل الكامل →
"The best investors never stop learning. Read voraciously, study history, learn from mistakes, and stay curious about the world. Knowledge compounds like interest."اقرأ التحليل الكامل →
"Reputation takes a lifetime to build and moments to destroy. In investing and in life, integrity is the most valuable asset you can possess."اقرأ التحليل الكامل →
"The ideal investment is a high-quality business purchased at a fair price. Quality compounds wealth; fair prices protect capital."اقرأ التحليل الكامل →
"Never invest in a business you cannot explain in simple terms. If you can't describe why a company is valuable, you don't understand it well enough to own it."اقرأ التحليل الكامل →
"Look for investments where a specific catalyst will unlock value. Without a catalyst, even cheap stocks can remain undervalued indefinitely."اقرأ التحليل الكامل →
"The greatest enemy of the investor is himself. Fear, greed, regret, and pride cause more losses than any economic event. Master your emotions to master the market."اقرأ التحليل الكامل →
"Know the common behavioral biases that trap investors: anchoring, confirmation bias, loss aversion, and herding. Awareness is the first step to prevention."اقرأ التحليل الكامل →
"Think independently. The crowd is often wrong at extremes, and following popular opinion is a reliable path to mediocre returns. Form your own informed views."اقرأ التحليل الكامل →
"The market exists to serve you, not to guide you. Use market prices to your advantage — buy when the market offers bargains and sell when it offers premiums."اقرأ التحليل الكامل →
"Markets move in cycles driven by human emotion. Understanding where you are in the cycle helps you prepare for what comes next and position accordingly."اقرأ التحليل الكامل →
"In the short run, the market is a voting machine; in the long run, it's a weighing machine. Prices can diverge wildly from value, but eventually converge."اقرأ التحليل الكامل →
"A systematic approach to investing removes emotion and ensures consistency. Document your process, follow your rules, and review regularly."اقرأ التحليل الكامل →
"Use an investment checklist to ensure you don't skip critical steps. Aviation-style checklists prevent costly oversights in investment analysis."اقرأ التحليل الكامل →
"Review every investment decision — wins and losses — to improve your system. The best investors treat investing as a craft that can always be refined."اقرأ التحليل الكامل →
"Time is more important than price."
لقد جمعنا 50 مقولة موثقة لـ William Gann، كل منها مع إسناد المصدر وتحليل معمّق.
William Gann frequently discusses value investing, risk management, and long-term thinking.