Many investors seem to have forgotten a hard reality: There are frequent periods when stock markets don't do much.

Following what everyone else is doing is rarely a way to get rich.

The price of a commodity will never go to zero. When you invest in commodities futures, you're not buying a piece of paper that says you own an intangible piece of company that can go bankrupt.

Buy low and sell high. It's pretty simple. The problem is knowing what's low and what's high.

There is no such thing as a paper loss. A paper loss is a very real loss.

I don't think there is a sound UK bank now, at least, if there is one I don't know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don't need London.

Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.