This chapter highlights Jesse's conversation with Percy Thomas and the knowledge that he gained from Thomas related to trading. It explains how Thomas recommended the purchase of Delaware & Hudson stock. It explores how Thomas was cleaned out as the result of his deal in March cotton, after having failed for millions and having come back with more millions. It discusses the experience that Jesse had in Harding's office that proved how easily a man may be talked into doing something against his judgment and even against his wishes. The chapter also explains how he allowed himself to be persuaded not only into not taking his loss but into holding up the market. It further discusses how he did precisely the wrong thing, knowing the game of stock as well as he did and with an experience of twelve or fourteen years of speculating in stocks and commodities.