The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.

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.

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.

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.

The stock market is never obvious. It is designed to fool most of the people, most of the time.

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

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.