Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.

Ignorance at twenty-two isn't a structural defect.

Speculation is a hard and trying business, and a speculator must be on the job all the time or he'll soon have no job to be on.

Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes.

When a man is right he wants to get all that is coming to him for being right.

He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.