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

When I'm bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don't buy long stocks on a scale down, I buy on a scale up.

In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices breaks through the limit in either direction.

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.

When a man is right he wants to get all that is coming to him for being right.

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

The only thing to do when a man is wrong is to be right by ceasing to be wrong.