Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.

Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.

I am more and more impressed with the possibilities of history's repeating itself on many different counts. You don't get very far in Wall Street with the simple, convenient conclusion that a given level of prices is not too high.

You must never delude yourself into thinking that you're investing when you're speculating.

We have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to declare this approach is as fallacious as it is popular.

High valuations entail high risks.