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

The basic skills of math, English and writing are not enough, ... You must develop a basic system of values to form and guide the use of these skills. The true test will not be what you learned in college, but how you used what you learned.

If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia.

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.

If you want to be lucky, do your homework.

When things go wrong on a macroeconomic level, it's almost always this way. People find someone to blame, whether it's blacks, whites, Christians, Jews, Muslims-whoever.

The first loss is the best loss.