Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
When we control business in the public interest we are also bound to encourage it in the public interest or it will be a bad thing for everybody and worst of all for those on whose behalf the control is nominally exercised.
The mark of the man of the world is absence of pretension. He does not make a speech; he takes a low business-tone, avoids all brag, is nobody, dresses plainly, promises not at all, performs much, speaks in monosyllables, hugs his fact.
I have always in my own thought summed up individual liberty, and business liberty, and every other kind of liberty, in the phrase that is common in the sporting world, 'A free field and no favor.'