The man who wishes to convert another to his way of thinking must be a diplomat if he is successful. Do not get excited, keep cool and collected, be sure of your ground, be positive in your assertions, make the whole matter clear, and use good judgment, sound reason and clear logic.
Speculation
You are playing against odds when you speculate.
The only man who has a sure thing on the Board of Trade or Stock Exchange or the race track is the man with the "Wienerwurst" privilege.
The successful business man some day wakes up to the fact that his bills are paid, and that he has surplus money. This surplus money should be used for investment purposes and not for speculation. Of course, it is hard to draw the line where investment leaves off and speculation begins.
When you speculate on margins you are like the fellow holding on a bear's tail as it runs around a tree—if you lose your hold the bear will get you.
The man who makes an investment, buying stocks or real estate and paying cash for them does not have to worry about the market. Prices may be up or down, but the man who has paid for what he has bought will sleep well.
You can't beat the speculation game. The only ones who make a success, and their success is ephemeral, are those who make speculation their whole occupation. The professional speculator is merely a high grade gambler, and he always winds up a loser.
Go to the Stock Exchange or the Board of Trade and you will see at either place a half a dozen old fellows hanging around. They are all men who have seen better days. A little inquiry and diplomacy on your part will bring forth the fact that these men were once prominent figures on 'Change.