My main life lesson from investing: self-interest is the most powerful force on earth, and can get people to embrace and defend almost anything.

"If I buy stocks on Smith's tip I must sell those same stocks on Smith's tip. I am depending on him. Suppose Smith is away on a holiday when the selling time comes around?

When everyone thinks alike, there isn't much thinking taking place. Get out when you can, not when you have to.

I began to realize that the big money must necessarily be in the big swing.

Every once in a while you must go to cash, take a break, take a vacation. Don't try to play the market all the time. It can't be done, too tough on the emotions.

Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.

My main life lesson from investing: self-interest is the most powerful force on earth, and can get people to embrace and defend almost anything.