For any company, you need to have an overarching philosophy to guide operations for profitability.

The ancient Greek dramatist Euripides said, 'The best of seers is he who guesses well.

An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.

Never mingle your speculative and investment operations in the same account, nor in any part of your thinking.

We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.

I made a fortune getting out too soon.