I never argue with the tape. To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia.

The only thing to do when a man is wrong is to be right by ceasing to be wrong.

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.

I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgment.

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.

No one ever went broke by taking a profit.

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.