It isn't as important to buy as cheap as possible as it is to buy at the right time.

Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.

For instance, let us say that a new stock has been listed in the last two or three years and its high was 20, or any other figure, and that such a price was made two or three years ago. If something favorable happens in connection with the company, and the stock starts upward, usually it is safe play to buy the minute it touches a brand new high.

There is time to go long, time to go short and time to go fishing.

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.

A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.

If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money. And I am only right when I make money. That is speculating.