Mark Twain on Markets

1322654711000 » Tagged as: Mark Twain Effect , October Curse

It is the birthday of Samuel Clemens, better known as Mark Twain. No need for a mere geek blogger to give an elaborate description of what a wonderful writer he was, but permit me to touch upon his contributions to stock markets.

OCTOBER: This is one of the peculiarly dangerous months to speculate in stocks in. The other are July, January, September, April, November, May, March, June, December, August, and February. - Pudd'nhead Wilson's Calendar

It is because of this quotation that the October curse is sometimes known as the Mark Twain Effect. The Colombo Stock Exchange declined in October this year and nor did it have a good one last year. On the other hand April, May, June, July, August, September and November weren't very good months either.
There are two times in a man's life when he should not speculate: when he can't afford it and when he can. - Following the Equator, Pudd'nhead Wilson's New Calendar
Mark Twain actually filed for Bankruptcy, so let's consider it as proof that one should not speculate even though one can afford it; Mark Twain certainly could. Eventually he made enough money to repay all his borrowings.
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