Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.

In the old legend the wise men finally boiled down the history of mortal affairs into a single phrase: 'This too will pass.'

Diversification is an established tenet of conservative investment.

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.

Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.

The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.

The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored.