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.

Whatever men attempt, they seem driven to overdo. When hopes are soaring, I always repeat to myself that two and two still make four.

The ability to express an idea is well nigh as important as the idea itself.

The main purpose of the stock market is to make fools of as many men as possible.

Do not blame anybody for your mistakes and failures.

When beggars and shoeshine boys, barbers and beauticians can tell you how to get rich it is time to remind yourself that there is no more dangerous illusion than the belief that one can get something for nothing.

I have known men who could see through the motivations of others with the skill of a clairvoyant; only to prove blind to their own mistakes. I have been one of those men.