"Reminiscences of a Stock Operator" excerpt:

A series of blows has made me less aggressive and confident; perhaps it should be said that I am no longer so careless, because I certainly know I am getting closer to a major market trend.

All I can do is observe carefully and wait patiently; this is what I should do before making a large investment. It is not just a matter of patching up after the fact; I must have complete confidence before my next move.

If a person does not make mistakes, within a month he can have the whole world.

But if he cannot learn from his mistakes, he will not be able to win wealth.