The big money in booms is always made first by the public - on paper. And it remains on paper.

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 big money in booms is always made first by the public - on paper. And it remains on paper.

Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. I think the clearest summing up of the whole thing was expressed by Thomas F. Woodlock when he declared: “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.”

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

As a matter of fact I trade in accordance to my means and always leave myself an ample margin of safety.