The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.

I learned very early in my investing careers: I better not invest in what I want. I better invest in what's happening in the world. Otherwise I'll be broke - dead broke.

You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.

One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do... I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up... I wait for a situation that is like the proverbial "shooting fish in a barrel."

My basic advise is don't lose money

Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.

Most successful investors, in fact, do nothing most of the time.