EDWIN LEFEVRE

The public always wants to be told.

People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth.

When the man who ought to want a stock doesn't want it, why should I want it?

Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street.

There is no question that advertising is an art, and manipulation is the art of advertising through the medium of the tape.

In fact, of all hoodoos in Wall Street I think the resolve to induce the stock market to act as a fairy godmother is the busiest and most persistent.

No man can always have adequate reasons for buying or selling stocks daily - or sufficient knowledge to make his play an intelligent play.

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.

the public never is independently responsive to news.

A battle goes on in the stock market and the tape is your telescope. You can depend upon it seven out of ten cases.

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.

If a man didn't make mistakes he'd own the world in a month.But if he didn't profit by his mistakes he wouldn't own a blessed thing.

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.

As I have said a thousand times, no manipulation can put stocks down and keep them down.

The speculators deadly enemies are: Ignorance, greed, fear and hope. All the statute books in the world and all the rules of all the Exchanges on earth cannot eliminate these from the human animal.

It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.

The speculator is not an investor.

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.

As a matter of fact I trade in accordance to my means and always leave myself an ample margin of safety.

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.

When you find that it fails to respond adequately to your buying you don't need any better tip to sell.

Being broke is a very efficient educational agency.

The big money in booms is always made first by the public - on paper. And it remains on paper.

TIPS! How people want tips! They crave not only to get them but to give them.

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.