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What I had foreseen had come to pass. But more than all these things was this: a wild dream of mine had been realised. I had been king for a day!
But being wrong not taking the loss that is what does the damage to the pocketbook and to the soul.
stocks are never too high to buy or too low to sell. The price, per se, has nothing to do with establishing my line of least resistance.
But in actual practice a man has to guard against many things, and most of all against himself that is, against human nature.
That is the reason why I say that the man who is right always has two forces working in his favor basic conditions and the men who are wrong.
"You can't tell till you bet."
average speculator has arrayed against him his own nature.
He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope.
no man living can beat the stock market!
I have come to feel that it is as necessary to know how to read myself as to know how to read the tape.
There was no sense in being more royalist than the king; especially in being so too soon.
The top is never in sight when the vision is vitiated by hope.
That is why those outsiders who are wise enough not to buy at the top make up for it by not taking profits. The big money in booms is always made first by the public on paper. And it remains on paper.
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