One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.
"On Pat Hearne - He made money in stocks, and that made people ask him for advice. He would never give any. If they asked him point-blank for his opinion about the wisdom of their commitments he used a favorite race-track maxim of his: "You can't tell till you bet.""
I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgment.
Don't give me timing, give me time
To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.
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