Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks.

"On Pat Hearne - He made money in stocks, and that made people ask him for advice. He would never give any. If they asked him point-blank for his opinion about the wisdom of their commitments he used a favorite race-track maxim of his: "You can't tell till you bet.""

There are times when you should be completely out of the market, for emotional as well as economic reasons.

There is only one side to the stock market; and it is not the bull side or the bear side, but the right side

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

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.