The greatest blessing of our democracy is freedom. But in the last analysis, our only freedom is the freedom to discipline ourselves.

Old books that have ceased to be of service should no more be abandoned than should old friends who have ceased to give pleasure.

Learn to take losses quickly and cleanly. There is something about inside information which seems to paralyze a man's reasoning powers. Beware of barbers, beauticians, waiters - or anyone - bringing gifts of 'inside' information or tips. Don't try to be a jack of all investment. Stick to the field you know best.

Only liars manage to always be out during bad times and in during good times.

Don't speculate unless you can make it a full time job.

The terror created by weaponry has never stopped men from employing them.

Never pay the slightest attention to what a company president ever says about his stock.