Charles Dow Quotes


Best 50 Quotes by Charles Dow – Page 1 of 2

“A stock operator should not deal in stocks unless he thinks he knows their value.”

“An investor who will study values and market conditions, and then exercise enough patience for six men will likely make money in stocks.”

“Any man who claims to know what the market is going to do any more than to say that he thinks this or that will occur as a result of certain specified conditions is unworthy of trust as a broker.”

“Bull markets and bear markets run four and five years at a time.”

“Buy stocks for investment; that is, to pay for them outright when they are selling below value and wait until they are up to value, getting the difference for a profit.”

“Great opportunities do not come every year…”

“Have money enough to see a decline through without becoming uneasy or over-burdened.”

“How many operators in looking over their books find a considerable number of small profits swept away by one large loss?”

“If a stock advances ten points, it is very likely to have a relapse of four points or more.”

“If people with either large or small capital would look upon trading in stocks as an attempt to get 12 percent per annum on their money instead of 50 percent weekly, they would come out a good deal better in the long run.”

“If there were no exceptions, the keepers of bucket shops would all get rich.”

“In a bull market it is better to always work on the bull side; in a bear market, on the bear side.”

“In most bull markets there comes a time when the public controls fluctuations and the efforts of the largest operators are insufficient to check the rising tide.”

“In the long run, the prices of stocks adjust themselves to the return on the investment.”

“It is always safer to assume that values determine prices in the long run. Values have nothing to do with current fluctuations. A worthless stock can go up 5 points just as easily as the best, but as a result of continuous fluctuations the good stock will gradually work up to its investment value.”

“It is one thing to will and another to do in stock speculation.”

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“Many people seem to think that if an operator is in Wall Street, he can tell what the market is going to do. Nothing is further from the fact.”

“Money is made by conservative trading rather than by the effort to get large profits by taking large risks.”

“Most people however, when they talk about making money in stocks do not mean the slow road through investments, but the short cut by way of speculation.”

“Nobody can hope to buy at the bottom or to sell at the top…”

“People in Wall Street, even those who get very near the center of large operations, do not know what the market is going to do with any regularity or certainty.”

“Pride of opinion has been responsible for the downfall of more men on Wall Street than any other factor.”

“Profits and losses run in streaks.”

“Speculation is not at its best a simple and easy road to wealth, but speculation through people who advertise guaranteed profits and who call for participation in blind pools is as certain a method of loss as could possibly be discovered.”

“Stick to the stock bought until a fair profit or until there is good reason for deciding that the first estimate of value was wrong.”

“Stocks fluctuate together, but prices are controlled by values in the long run.”

“Stop orders should not be given in inactive stocks, as the seller may be slaughtered in their execution.”

“The best profits in the stock market are made by people who get long or short at extremes and stay for months or years before they take their profit.”

“The business community has a tendency to go from one extreme to the other.”

“The buyer of any stock has some reason for his action. He has heard that the stock is going up; he believes that it is selling below its value, he sees that a bull market is under way and believes that this stock will go up as much as any other. These and similar reasons lead to buying.”

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“Diversifying sufficiently among uncorrelated risks can reduce portfolio risk toward zero.

But financial engineers should know that's not true of a portfolio of correlated risks.”

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