Quotes from Edwin Lefevre

the way in which the market took my wheat and the disproportionate decline on my selling told me that there was no buying power there. Such being the case, what was the only thing to do? Of course, to sell a lot more.

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

The fallacy that a stock that has once sold at 150 must be cheap at 130 and a bargain at 120.

the nature of the game as it is played is such that the public should realize that the truth cannot be told by the few who know. Otherwise they could not benefit by their knowledge

Reminiscences is quoted as a major source of stock trading learning material for experienced and new traders by many of the traders who Schwager interviewed. The book is considered an investment classic.

Stocks are manipulated to the highest point possible and then sold to the public on the way down.

A stock which it is desired to distribute should be manipulated to the highest possible point and then sold.

You know, it's a bull market!

He said that the only thing that didn't lie because it simply couldn't was mathematics.

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.

When the stock you are manipulating doesn't act as it should, quit. Don't argue with the tape. Do not seek to lure the profit back. Quit while the quitting is good—and cheap.

It's the guessing that develops a man's brain power. Just consider what you have to do to guess right.

It is a very old thing, this of noting the behavior of a stock and studying its past performances.

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.

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

Before I can solve a problem I must state it to myself. When I think I have found the solution I must prove I am right. I know of only one way to prove it; and that is, with my own money.

Addison G. Jerome was the acknowledged king of the Public Board in the spring of 1863. His market tips, they tell me, were considered as good as cash in bank. From all accounts he was a great trader and made millions.

Vision without money means heartaches; with money, it means achievement; and that means power; and that means money; and that means achievement; and so on, over and over and over.

They say you never grow poor taking profits. No, you don't. But neither do you grow rich taking a four-point profit in a bull market.

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 not limit his losses when he is wrong. He should. But that should not breed indecision. All

But you don't sell in bulk on the advance. You can't. The big selling is done on the way down from the top.

When a man is right he wants to get all that is coming to him for being right.

That is why I repeat that I never argue with the tape.

The rewards are not so great, for it is no longer pioneer work and therefore it is not pioneer's pay. But in certain respects manipulation is easier than it was; in other ways much harder than in Keene's day.