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.

Evidently stockholders have forgotten more than to look at balance sheets. They have forgotten also that they are owners of a business and not merely owners of a quotation on the stock ticker. It is time, and high time, that the millions of American shareholders turned their eyes from the daily market reports long enough to give some attention to the enterprises themselves of which they are the proprietors, and which exist for their benefit and at their pleasure.

Always buy your straw hats in the Winter

The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.

High valuations entail high risks.

Buy not on optimism, but on arithmetic.

Individuals who cannot master their emotions are ill-suited to profit from the investment process.