Sunday, July 3, 2011

not a friend in need

"what does a man do

when he sets out to make the stock market

pay for a sudden need?

......he merely hopes.

.....he gambles.

he, therefore, runs much greater risks

than he would

if he were speculating intelligently,

in accordance with opinions or beliefs

logically arrived at

after a dispassionate study of underlying conditions.



to begin with,

he is after an immediate profit.

he cannot afford to wait.

the market must be nice to him at once, if at all.

he flatters himself............

.............it certainly is no way to trade. "



- reminiscences of a stock operator

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