Being broke is a very efficient educational agency.

The game taught me the game.

There is no question that advertising is an art, and manipulation is the art of advertising through the medium of the tape.

The speculator is not an investor.

Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street.

It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.

The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past.