It dawned on me like a revelation that when I was traveling abroad I had been able to assess the market, or rather the few hot commodity market picks in which I was interested, calmly, neutrally, without interruption or rumor, completely without emotion and ego.
I had operated simply on the basis of my daily telegram, which gave me my perspective. It showed me the way my hot commodity market picks were behaving. There were no other influences, because I did not see or hear anything else.
In New York it was nothing like that. There were interruptions, rumors, panics, contradictory information, all floating into my ear. As a result of this my emotions became involved with the hot commodity market picks - and the cold, clinical approach had gone.
I decided there was only one answer. I must try to find myself. I must go away at once, a long way from New York, before I lost all my money.
There were a couple of hot commodity market picks that saved me from complete ruin during this period. And they were UNIVERSAL CONTROLS and THIOKOL, that were behaving well and I left them alone. I now realize I only did this because I was too busy to bother about them. I was trading in other that, which were losing me money.
I reviewed the situation and got rid of all my hot commodity market picks except for these two. Then I took a plane for Paris. Before I left, however, I made a very important decision. I gave instructions to my brokers that they must never telephone me or give me any information about hot commodity market picks of any sort on any pretext whatsoever. The only communication I wanted from them and from Wall Street was my usual daily telegram.
I wandered around Paris in a daze, my head still spinning with blurred, meaningless columns of hot commodity market picks quotations. My daily telegrams arrived - and they did not make much sense to me. I had completely lost my touch. I felt like a man who has had a terrible accident and feels he will never be well again. My hot commodity market picks had left me thoroughly demoralized.
Then just when I thought my condition was permanent something happened. I had been in Paris about two weeks when one day I picked up my daily telegram in the Hotel Georges V. As I scanned it dispiritedly somehow the figures seemed less dim. At first I could not believe it. I felt myself gazing at them as though I had never seen them before. I was afraid I was only imagining things about my hot commodity market picks.
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