The feeling that I was operating with a profit in Wall Street, allied to anatural awe of the place, made me feel foolishly happy. I felt I was
losing my Canadian amateur status and becoming a member of an inner
circle. I did not realize my method had not improved—that I was
simply using more pompous words to cover it. For instance, I no
longer considered the broker's advice as tips, but as "information". As
far as I was concerned, I had given up listening to tips and instead was
receiving authentic news based on valid economic evidence.
The boat sailed happily along. Here are some of my transactions
during April and May 1954: