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

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.

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.

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

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

My main life lesson from investing: self-interest is the most powerful force on earth, and can get people to embrace and defend almost anything.

If the unusual never happened there would be no difference in people and then there wouldn't be any fun in life. The game would become merely a matter of addition and subtraction. It would make of us a race of bookkeepers with plodding minds. It's the guessing that develops a man's brain power.