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

There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there's one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.

In the short run, the market is a voting machine, but in the long run it is a weighing machine.

The underlying principles of sound investment should not alter from decade to decade, but the application of these principles must be adapted to significant changes in the financial mechanisms and climate.

The stock market resembles a huge laundry in which institutions take in large blocks of each others washing ... without rhyme or reason.

If fees consume more than 1% of your assets annually, you should probably shop for another adviser.

Abnormally good or abnormally bad conditions do not last forever.