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James B. Rogers, Jr.

Until we ran out of money, we were always leveraged to the hilt. When we bought something and ran out of money, we would look at the portfolio and push out whatever appeared to be the least attractive item at that point.

James B. Rogers, Jr.

One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. Most people–not that I’m better than most people–always have to be playing; they always have to be doing something.

Marty Schwartz

On the day of the crash, when I looked at my son in his crib, I thought, I don’t want him ever to ask me, “Dad, why didn’t you do everything you could have done?”

Marty Schwartz

That’s another example where my Maine training came into play. They teach you never to freeze when you are under attack. One of the tactics in the Marine Corps officer’s manual is either go forward or backward. Don’t just sit there if you are getting the hell beat out of you.

When did you turn from a loser to a winner?

Marty Schwartz

When I was able to separate my ego needs from making money. When I was able to accept being wrong. Before, admitting I was wrong was more upsetting than losing the money. I used to try to will things to happen. I figured it out, therefore it can’t be wrong. When I became a winner, I said, “I figured it out, but if I’m wrong, I’m getting the hell out, because I want to save my money and go on to the next trade.”

David Ryan

You want an increase in volume when the stock breaks out, but you want a decrease in volume as the stock consolidates.

David Ryan

Yes. Stocks should be at a profit the first day you buy them. In fact, having a profit on the first day is one of the best indicators that you are going to make money on the trade.

So, a stock which is at new highs has much more of an open running field?

David Ryan

Right, because no one ahead of you is at a loss and wants to get out at the first opportunity. Everybody has a profit; everybody is happy.

David Ryan

Yes, because that shows me there is something very unusual going on, and if the situation is that good, a doubling may just be the beginning. It is probably going to double again.

David Ryan

I check the number of shares outstanding. I am looking for stocks with less than thirty million shares and preferably only five to ten million shares. Stocks with more than thirty million shares are more mature; they have already split a few times. It is a case of supply and demand: Because you have more supply, it takes a lot more money to move those stocks.