J.P. Morgan, the titan of American finance, was once asked by an admirer how he accumulated his vast fortune. Had he been a man endowed with a Chinese sense of humor, he would’ve said: “I worked very hard……and then my father died and left me his company”. Instead, he offered the eternal truth: “buy low and sell high”.

This, of course, is the only way to make money. But what Morgan didn’t say was how to determine when to buy and when to sell. Morgan had the advantage of being the lord of finance during an era when insider trading was not only legal, but also expected and accepted.

Others do not have it as either. Recently we’ve found out that even men as sharp as a billionaire investor or the former head of the McKinsey need extralegal means to chase profits. These scandals and others and validated something that economists have long been saying: Nobody knows anything, not even the economists. In fact, one of the basic principles of modern investing is that the market cannot be timed without the extra help, and investors who believe otherwise usually make much less money.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Yang Wang

Yang is currently the brand and media director at Elitime Media & Consulting. He has published and translated seven books, and several of his works have been translated and published in areas such...