Edwin Lefevre (1871 – 1943)
American journalist, writer, and statesman most remembered today for his writings about Wall Street.
History repeats itself all the time on Wall Street.
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 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.
" Oh, Mr. Wolff, what do you think of Balzac? "
Josh politely ceased to masticate, swallowed and answered,
" I never trade them Curb stocks! "
There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!
The big money in booms is always made first by the public - on paper.
And it remains on paper.
As I have said a thousand times, no manipulation can put stocks down and keep them down.