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.

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

I get the facts, I study them patiently, I apply imagination.

Become more humble as the market goes your way.

Only as you do know yourself can your brain serve you as a sharp and efficient tool. Know your own failings, passions, and prejudices so you can separate them from what you see.

I never lost money by turning a profit.

Increased wages, higher pensions, more unemployment insurance, all are of no avail if the purchasing power of money falls faster.