Investing solely for 'income,' investing merely 'to keep capital employed,' and investing simply 'to hedge against inflation' are all entirely out of the question.

It is wise to remember that too much success in the stock market is in itself an excellent warning.

Market values are fixed only in part by balance sheets and income statements; much more by the hopes and fears of humanity; by greed, ambition, acts of God, invention, financial stress and strain, weather, discovery, fashion and numberless other causes impossible to be listed without omission.

Investing solely for 'income,' investing merely 'to keep capital employed,' and investing simply 'to hedge against inflation' are all entirely out of the question.

The desire for gold is the most universal and deeply rooted commercial instinct of the human race.

Stocks are bought on expectations, not facts.

Don't be overly concerned about your heirs. Usually, unearned funds do them more harm than good.