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Confusion of Confusions

Joseph de la Vega was a successful Jewish merchant, poet, and philanthropist in 17th century Amsterdam. He authored the oldest and perhaps most appropriately titled book ever written on the stock market, Confusion of Confusions. In it, Vega presents the art of speculation as a dialogue between market participants. His work is summarized by four basic principles of trading – as relevant today as they were centuries ago:

  1. The first principle: Never...