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- A speculator should make it a rule each time he closes a successful deal to take 50% of his profits and lock this sum up in a safe deposit box. The only money that is ever taken out of Wall Street by speculators is the money they draw out of their accounts after closing a successful deal.
- There is no better time than after a large “win” on a stock. Cash is your secret bullet in the chamber, keep a cash reserve.
- The single largest regret I have ever had in my financial life was not paying enough attention to this rule.