Edwin Lefevre Famous Quotes
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Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics, the one thing that strikes you most forcibly is how little either stock speculation or stock speculators today differ from yesterday. The game does not change and neither does human nature.
The public never is independently responsive to news.
The game taught me the game.
As a matter of fact I trade in accordance to my means and always leave myself an ample margin of safety.
When it comes to selling stocks, it is plain that nobody can sell unless somebody wants those stocks.If you operate on a large scale you will have to bear that in mind all the time.
The speculator is not an investor.
If a stock doesn't act right don't touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit.
That is about all I have learned - to study general conditions, to take a position and stick to it.
The public always wants to be told.
And for a sucker play a man gets sucker pay; for the paymaster is on the job and never losses the pay envelope that is coming to you.
When you find that it fails to respond adequately to your buying you don't need any better tip to sell.
No man can always have adequate reasons for buying or selling stocks daily - or sufficient knowledge to make his play an intelligent play.
Being broke is a very efficient educational agency.
As I have said a thousand times, no manipulation can put stocks down and keep them down.
It takes a man a long time to learn all the lessons of all of his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of stock speculation.
One of the most helpful things that any body 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.
Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. I think the clearest summing up of the whole thing was expressed by Thomas F. Woodlock when he declared: "The principles of successful stock speculation are based on the supposition that people will continue in the future to make the mistakes that they have made in the past."
There is no question that advertising is an art, and manipulation is the art of advertising through the medium of the tape.
TIPS! How people want tips! They crave not only to get them but to give them.
