André Kostolany is a hungarian-french, jewish-catholic mixture of an European. Originally studying Philosophy and History of Art in Budapest he was sent to Paris by his father in 1924, to work as a Stockbroker. During WW2 he fled to New York and came back to France in 1950. He made most of his fortune during the following reconstruction of Germany, as an investor and speculator.

He published various articles and books mainly in French and German until his death in 1999. Three of his last works were

• Kostolanys Börsenpsychologie, 1991 (Kostolany's Stock market psychology)
• Weisheit eines Spekulanten, 1996 (Wisdom of a speculator)
• Die Kunst über Geld nachzudenken, 2000 (The art of thinking about money)

A friend of mine quoted Kostolany, when I was dissatisfied with my early sale of a coin - not because I made a loss but because I missed additional profits:

"Nobody has perished in profit-taking." (1)

Yes, true that. Also on the other hand: Don't regret too much about missed investment opportunities:

"Never run after a bus or a stock. Just be patient - the next one will come along for sure." (2)

A last one against self-reproach and in favor of serenity:

"You can win, you have to lose." (3)

At least you will have to accept losses. Here are my remaining favorite quotes:

"The one who has heaps of money, can speculate,
the one with little money, must not speculate,
the one with even less money, must speculate." (4)

"At the stock exchange 2+2 are never 4, but 5-1." (5)

-> Endure the minus one :)

"In the stock market, feeling often tells us what to do - the mind tells us what to avoid." (6)

"Always be fearful, never panic!" (7)

"I can’t tell you how to get rich quickly, I can only tell you how to get poor quickly: by trying to get rich quickly." (8)

"Stock market profits are like personal injury compensation. First comes the pain, then the money." (9)

"In a gold rush, don't invest in the gold diggers, but in shovels." (10)

"You can win, you have to lose, winning back: impossible." (11)

Don't even think of winning back: Open a new chapter in your trading diary, learn from the past and start over with the interim balance. No revenge trading! :)

"Anything is possible on the stock exchange. Also the opposite." (12)

"Buy stocks and drink valerian. When you wake up you've made money." (13)

Maybe I should go on coingecko-rehab... Thanks for reading and thanks to comforting Mr. Kostolany!