You may ask whether there is any reliable information about the market. Yes, there is. There are several large organizations that make a study of fundamental statistics and statistics of different companies and give information to their subscribers based upon this knowledge. We believe that is the only kind of information that is worth very much to a trader, except the statistical information--the number of shares sold and the prices at which they are sold--he gets from his daily or weekly papers. Some of the principal organizations of this kind are as follows: _Standard Statistics Company, Inc. Babson's Statistical Organization. The Brookmire Economic Service. Harvard Economic Service. Poor's Investment Service. Moody's Investors Service. Richard D. Wyckoff Analytical Staff._ The above are the principal organizations of this kind. Subscriptions to their service cost from $85 to $1000 a year. In addition to these there are a few other organizations besides our own and individuals giving a somewhat similar service, but we know of none that gives such a service at as low a price as ours. You should not confuse the service given by the above organizations with that given by many organizations and individuals who attempt to tell you what the market is going to do from day to day. In other words, they give 'tips' on the market. There are a number who issue daily market letters of this kind and charge from $10 to $25 a month for their service, but it is a line of service that we do not recommend at all, because we consider that you would be taking a very great risk if you followed advice of that kind. You might make enormously large profits occasionally, but you would also have frequent losses, and when the losses did come they might be greater than all the previous profits. We want you to understand that that kind of advice is entirely different from what we are recommending. CHAPTER XXVI. SUCCESSFUL SPECULATION Success in stock speculation depends upon a few things that are very simple. If you know what to buy, when to buy, and when to sell, and will act in accordance with that knowledge, your success is assured. You may think it is impossible to know these things, but it is not so difficult as it is supposed to be. Many people buy stocks at the wrong time, and most of those who do buy them at the right time, buy the wrong stocks. Right now (early in April, 1922) is buying time in the stock market, and it is possible that this buying time may continue--with some interruptions--for another year or two, or even longer.