Without Contraries Is No Progression

Without Contraries Is No Progression

William BlakeThe full quote, by William Blake, goes, "Without contraries is no progression. Attraction and repulsion, reason and energy, love and hate, are necessary to human existence." In investing, this does not mean that for every winner there's a loser. That's only true in zero-sum games. In investing, where the long-term trend is upward, everyone can win (theoretically) in the long run. Where the saying does apply in investing is the simple fact that for every buyer, there's a seller. And that's worth thinking about before you make a trade. Ask yourself what the party on the other side of the trade might be thinking.

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