Here's the essence of risk management: Risk no more than you can afford to lose, and also risk enough so that a win is meaningful. If there is no such amount, don't play.

The four most dangerous words in investing are 'This time it's different'.

If we become increasingly humble about how little we know, we may be more eager to search.

Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.

Don't ever, ever, believe anyone who tells you that you can just get by, by doing the easiest thing possible. Because there's always somebody behind you who really wants to do what you're doing. And they're going to work harder than you if you're not working hard

As a matter of fact I trade in accordance to my means and always leave myself an ample margin of safety.