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.

I have always played a lone hand. It is the way my mind works. I have to do my own seeing and my own thinking. But I can tell you that after the market began to go my way I felt for the first time in my life that I had allies - the strongest and truest in the world: underlying conditions. They were helping me with all their might.

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.

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.

It took me five years to learn to play the game intelligently enough to make big money when I was right.

A prudent speculator never argues with the tape. Markets are never wrong, opinions often are.

He will risk half his fortune in the stock market with less reflection that he devotes to the selection of a medium-priced automobile.