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 bargain hunting may be done in the by-ways of markets among securities that are rarely dealt in, and are sometimes very much undervalued. But this kind of quest can only be followed with the assistance of the very best professional advice.

8. When, as lately happened in the rubber industry, the price of an article falls below cost of production, it is fairly safe to buy and put away shares in the best companies engaged in producing it; because this is a state of things that cannot last, if the article is one that is really wanted.

9. If a security ought to be sold, never be deterred by its having cost more than you will get for it. People say "I can't sell so and so because I should lose so much." But the loss is there already and you only risk more loss if you wait. The price that you once paid has nothing whatever to do with the present prospects.