Now, I am certain that the serious Wall Street analyst who prepared this
glossy booklet had nothing but the highest intentions, but I must
record in the interest of truth that by the end of 1956, this stock
was down to 5¾.
About that time I heard a saying which has been passed from mouth to
mouth for generations in Wall Street, but to me was new: "You cannot
go broke taking a profit." I was much impressed by this and I was
burning to put it into operation. This is how I did it.
One of the market leaders early in February 1955 was KAISER
ALUMINUM. On my broker's recommendation I bought 100 shares
at 63⅜, paying $6,378.84 for the stock. It went up steadily, and at
75 I sold it. I received $7,453.29, which gave me a profit of $1,074.45
in less than one month.