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

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.

The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.

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

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."

A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul.

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.