Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it - even though others may hesitate or differ.

Investors have been so oversold on diversification that fear of having too many eggs in one basket has caused them to put far too little into companies they thoroughly know and far too much in others which they know nothing about.

If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.

When a feeling dissolves, it ceases to be your enemy and begins to be one of your allies.

If you want to know everything about the market, go to the beach. Push and pull your hands with the waves. Some are bigger waves, some are smaller. But if you try to push the wave out when it's coming in, it'll never happen. The market is always right.

Success in investing doesn't correlate with I.Q. Once you are above the level of 125; once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.