The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.

An investor calculates what a stock is worth, based on the value of its businesses.

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

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster

The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage.

Before you place your financial future in the hands of an adviser, it's imperative that you find someone who not only makes you comfortable but whose honesty is beyond reproach.

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.