It is what people actually did in the stock market that counted - not what they said they were going to do.

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.

I cannot fear to be wrong because I never think I'm wrong until I am proven wrong. In fact, I am uncomfortable unless I am capitalizing my experience.

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

Never buy at the bottom, and always sell too soon.

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.