(excerpt from A Stock Operator's Reminiscenses)
A man must believe in himself and his judgement if he expects to make a living at this game. That's why I don't believe in tips. If I buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around? No, sir, nobody can make abig money on what someone else tells him to do.
I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgement.