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

Never buy a stock because it has gone up or sell one because it has gone down.

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

An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.

Successful investing is about managing risk, not avoiding it.

The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.

The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes wrong.