The Key To Success Is Emotional Stability.

You Can Be Sure That Over The Next 10 Years, You'll See Something That You Did Not Think Was Possible.

If Some Institution Wants To Sell You A Billion Dollars Worth Of Mortgages, They Might Have To Sell 100 Million In The Market, And Then You'll Buy The Other 900 Million On The Same Terms. Now, The Very Fact That This Has Been Authorized Or Will Be Authorized, I Hope, Will Firm Up The Market To Some Degree. And That's Fine. But You Don't Want To Have Artificial Prices Being Paid.

Never Risk What You Have And Need For What We Don't Have And Don't Need.

The Much-maligned Idle Rich Have Received A Bad Rap: They Have Maintained Their Wealth While Many There Is Scarcely An Instance Of A Man Who Has Made A Fortune By Speculation And Kept It. Andrew Carnegie Of The Energetic Rich, Aggressive Real Estate Operators, Corporate Acquirers, Oil Drillers, Etc. Have Their Fortunes Disappear.

Ben's Mr. Market Allegory May Seem Out-of-date In Today's Investment World, In Which Most Professionals And Academicians Talk Of Efficient Markets, Dynamic Hedging And Betas. Their Interest In Such Matters Is Understandable, Since Techniques Shrouded In Mystery Clearly Have Value To The Purveyor Of Investment Advice. After All, What Witch Doctor Has Ever Achieved Fame And Fortune By Simply Advising 'take Two Aspirins'?