"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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