Q. Why do you buy dividend paying stocks?
A. Because they carry themselves.
Q. How often do you make purchases in a declining market?
A. That depends on the market, the stock, the times, and conditions generally, which can be properly judged by the managers, who are devoting all their time and facilities to the business, and know the exact condition of every property dealt in.
Q. What would be the effect of an unexpected calamity?
A. Panics are a great help to this method.
Q. How often do you make purchases or sales?
A. About every day, as some one or more of the different stocks have moved sufficiently to do some purchasing or selling.
Q. Do you expect to carry a stock a year before you can sell it?
A. Yes, if necessary, but not likely, because first purchase only begins when the stock can be had at a bargain and is only a small "lot," and when the average has been reached and sufficient profit made, all the little lots may be sold as one lot. It is not contemplated that this will be done unless it was desirable to close out in any particular stock. There may be some loss on first purchase, but the lowest purchases have handsome profits, and the transaction as a whole renders large returns, when it is closed out and the process commenced over again, and again.