- There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win.
- Every time I found the reason for a loss or the why and how of another mistake, I added a brand-new 'Don’t' to my schedule of assets.
- Money is made by sitting, not trading.
- It takes time to make money.
- It was never my thinking that made the big money for me, it always was sitting.
- Nobody can catch all the fluctuations.
- The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.
- Buy right, sit tight.
- Men who can both be right and sit tight are uncommon.
- Don't give me timing, give me time.
- There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play."
- Being broke is a very efficient educational agency
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