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.

Approach each new problem not with a view of finding what you hope will be there, but to get the truth.

Even when we know what is right, too often we fail to act. More often we grab greedily for the day, letting tomorrow bring what it will, putting off the unpleasant and unpopular.

Information cannot serve as an effective substitute for thinking.

Millions saw the apple fall but Newton was the one who asked why.

The essence of any plan for financing old age is saving-to put aside some part of today's earnings for the future. Anything that saps the value of savings-and inflation is the worst single threat-is the enemy of the aged and of those who expect to grow old.

I never lost money by turning a profit.