The speculator is not an investor.

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.

A battle goes on in the stock market and the tape is your telescope. You can depend upon it seven out of ten cases.

It takes a man a long time to learn all the lessons of all of his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.

That is one trouble about trading on a large scale.You cannot sneak out as you can when you pike along.

No man can always have adequate reasons for buying or selling stocks daily - or sufficient knowledge to make his play an intelligent play.

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