"If I buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around?

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 never argue with the tape. To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pneumonia.

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

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."

I was utterly free of speculative prejudices. The bear side doesn't appeal to me any more than the bull side, or vice versa. My one steadfast prejudice is against being wrong.

It never was my thinking that made the big money for me. It always was my sitting.