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.

A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don't believe in tips."

Trends come like a series of ocean waves, bringing the high tide when things are good and, as conditions recede, the low tide appears. These trends come unexpectedly, unpredictably, and they have to be weathered with temperance, poise, and patience- good or bad.

People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.

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

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.

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