there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

Before you place your financial future in the hands of an adviser, it's imperative that you find someone who not only makes you comfortable but whose honesty is beyond reproach.

To establish the right price for a stock, the market must have adequate information, but it by no means follows that is the market has this information it will thereupon establish the right price.

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.

The memory of the financial community is proverbially and distressingly short.

We have been trying to point out that this concept of an indefinitely favorable future is dangerous, even if it is true; because even if it is true you can easily overvalue the security, since you make it worth anything you want it to be worth. Beyond this, it is particularly dangerous too, because sometimes your ideas of the future turn out to be wrong. Then you have paid an awful lot for a future that isn't there. Your position then is pretty bad.