January 31, 2006

My Favorite Quotes from Old Turkey

1) It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight.

2) Man who can both be right and sit tight are uncommon. I found it one of the hardest things to learn.

3) Old Turkey was dead right in doing and saying what he did. He had not only the courage of his convictions but the intelligent patience to sit tight.

4) Old Turkey would cock his head to one side, contemplate his fellow customer with a fatherly smile, and finally he would say very impressively, "You know, it's a bull? / bear? market!" He really meant to tell that the big money was not in the individual fluctuations but in the main movements - that is, not in reading the tape but in sizing up the entire market and its trend.

5) Wait until you see -- or if you prefer, until you think you see -- the turn of the market; the beginning of a reversal of general conditions ...