Decide Then Act Instantly, No Wobbling

““Now when you say ‘no,’ you must mean ‘no,’ and when you say ‘yes,’ you must mean ‘yes.’ Whatever you do, you must make your own decisions and never delay or wobble. You must decide.””

“PERSONAL EQUIPMENT SELF-RELIANCE: Do your own thinking. Don’t let your emotions enter into it. Keep out of any environment that may affect your acting on your reason. JUDGMENT: Consider all the facts—meditate on them. Don’t let what you want to happen influence your judgment. COURAGE: Don’t overestimate the courage you will have if things go against you. ALERTNESS: To discover any new facts that change the situation; or which may affect public opinion. PRUDENCE: Be pliable or you won’t be prudent. Become more humble as the market goes your way. It is not prudent to buy when you think the bottom has been reached. It is better to wait and see, and buy too late. It is not prudent to wait for the top of the market to sell—it is better to sell “too soon.” (Never buy so that your margin will be less than 85, or hold if it drops below 80. In a particularly “clear sky” situation with[out] “buts” or “ifs,” one can lower these margins to 80–75%.) PLIABILITY: Consider and reconsider the facts, and your opinions. Stubbornness as to opinions—“cockiness”—must be entirely eliminated. A determination to make a certain amount within a certain time absolutely destroys pliability. When you decide, act promptly—don’t wait to see what the market will do.”