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profits run. Ooh, this is really, really hard. Nobody likes to admit to himself — or even worse, to his spouse — that he bought a lemon of a stock.
You buy a stock. It goes down, often a lot. You don’t sell because until you do, it’s just a “paper” loss. Well, money is paper as well, and while you’re waiting for your dog of a stock to recover, you could have taken that money and invested it in a stock that has some legs.
I’ve had a terrific year this year, and probably one third of my stock purchases have been losers. But they have been little losses while my gains have been 50-100 percent. You buy a stock and it goes down 10 percent or so, get rid of it — unless it has a history of erratic movements like Internet stocks.
5. Bulls make money. Bears make money. Pigs get slaughtered. A Bull is one that believes the market is going up forever, into the stratosphere. Naturally he’s wrong. A Bear thinks that the market is too high already, and that a massive crash is almost here. He’s also wrong.
A Pig is one that thinks that whatever stocks he buys are always worth more than what the price currently is, and he’s the most wrong of all because he won’t take a profit when the taking is good. He wants that extra 10 percent or so. Nobody I know is able to buy. at the absolute bottom and sell at the
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