Too many speculators "playing the market" still persist in gambling on the million-to-one chance that they will be the lucky ones to make quick fortunes without working for them. — Franklin Williams There isn’t a man in Wall Street who has not lost money trying to make the market pay for an automobile or a bracelet or a motorboat or a painting. I could build a huge hospital with the birthday presents that the tight-fisted stock market has refused to pay for … of all hoodoos in Wall Street I think the resolve to induce the stock market to act as a fairy godmother is the busiest and most persistent. What does a man do when he sets out to make the stock market pay for a sudden need? Why he merely hopes. He is after an immediate profit. He cannot afford to wait. The market must be nice to him at once, if at all. [And so] he gambles. He runs much greater risks than he would if he were speculating intelligently, in accordance with opinions or beliefs logically arrived at after a dispassio...
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