Stock prices aren't real things. They're just froth on a wave. The wave is the only real thing, which investors forget when they're watching the ticket slither by.

You normally don't get a margin call unless your securities, minus the debt, are worth 30% or less of their nominal market value.

No one knows what stocks will do tomorrow, but the evidence is clear as to how they'll perform over 10 or 20 years. They will almost certainly go up.

There is a secret to investing that cuts a path directly to the profits that you're looking for. The secret is simplicity. The more elementary your investment style, the more confident you can be of making money in the long run.

You get the most out of what you need the least.

Everyone needs a small-town banker. Especially in a big town.

Buy a friend; hire a lawyer.