When everyone thinks alike, there isn't much thinking taking place. Get out when you can, not when you have to.

A man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.

"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.""

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

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

I began to realize that the big money must necessarily be in the big swing.

I don't know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn't get you anywhere.