Never hope to be lucky

[The following is taken from p.426-427 of Profits in the Stock Market by H. M. Gartley (1981). Lambert-Gann Publishing Co, Washington.]

No Dependable Way to Get Something For Nothing.

It is only human for the average person to try to get something for nothing. And it is just this nautral urge that has caused widespread gambling ever since history has been written.

This laziness, greed and unwillingness on the part of the majority, to perform the labor of learning presents a rare opportunity for the few who are willing to labor to the point of understanding.

When the task of accumulating capital is carefully considered, the willingness of the majority of persons to gamble their assets in the stock market in the hope of enhancing their capital or making a fortune, is an amazing and sad commentary which belittles the intelligence of the mass. The writer finds it hard to understand why so many people will work a lifetime and then fritter away their savings in a business about which they know practically nothing. It is cause for even greater wonder if the few who have learned something about the intricacies of stock price movements, continue their stock market speculations without proceeding with a systematic study. In the humble opinion of the author, the intelligent readers of this course should quit speculation entirely unless they are willing to devote the time and attention necessary to progress patiently through the five steps outlined above. To have understanding and not apply it is nothing less than a stupid and unnecessary blunder.

Bewilderment Will Disappear With Experience

As in any human activity, the stock market student will find that, as he progresses in a systematic study of the market, the usual cloud of bewilderment will disappear.

It is to be clearly understood as a primary premise in making this study, that neither the author nor any other writer is able to hand the reader a foolproof, automatic and perfect system of beating the stock market. In the opionion of this writer, it is unlikely that there will ever come a time when an individual or group of individuals, even by elabourate and careful studies, will be able to call every turn in the market in advance. The reader should not expect this.

The primary object of the course is to teach the average man to know enough about stock price movements so that he may consistently make a substantial profit each year. A reasonable objective of the average man would be to make 18-24 per cent or more on the capital employed without the use of borrowed money.