Another misconception is that an order is canceled when you hit 'cancel' on your computer. But, the fact is it's canceled only when the market gets the cancellation.

Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical.

I think we have got to start thinking about banding together in terms of interested groups.

Personally I don't think day traders are speculating, because traditional speculation requires some market knowledge. They are, instead, gambling, which doesn't.

We should never lose sight of the underlying essence of a market-a place where buyers and sellers come together. Every other feature-whether crafted by tradition or technology-exists only to serve that primary purpose.

One way for investors to protect themselves from a rapid change in the price of a stock is to use a limit order rather than a market order.

George Orwell once blamed the demise of the English language on politics. It's quite possible he never read a prospectus.