One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.

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

There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.

Money is made by sitting, not trading.

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.

Most people, whether bull or bear, when they are right, are right for the wrong reason, in my opinion.

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