I Believe I Can Fly

It takes a man a long time to learn all the lessons of all 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.

With me I must back my opinions with my money. My losses have taught me that I must not begin to advance until I am sure i shall not have to retreat. But if I cannot advance I do not move at all. i do not mean by this that a man should limit his losses when he is wrong. He should. But that should not bread indecision. All my life i have made mistakes, but in losing money i have gained experience and accumulated a lot of valuable don'ts. I have been flat broke several times, but my loss has never been a total loss. Otherwise, I wouldn't be here now. I always knew i would have another chance and that I would not make the same mistake a second time.

I believed in myself.

- - passage from Reminiscences of a Stock Operator --

-- Thanks MJ