It is only by understanding the emotion of others that an investor has a chance to produce superior results.

It's self-centered to think that human beings, as limited as we are, can describe divinity.

What are we going to get out of life? This can understandably be a question of fundamental importance to us. We begin with certain basic needs and desires. It is important to have a comfortable home, plenty of food, a meaningful and well-paying job, comfort, companionship, and joy. However, many of us have not fully realized a simple, basic principle: for our receiving to take place, we must first give. Giving and receiving are two aspects of the same law of life.

The four most expensive words in the English language are, 'This time it's different.'

To buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest reward.

The opposite of humility is arrogance--the belief that we are wiser or better than others. Arrogance promotes separation rather than community. It looms like a brick wall between us and those from whom we could learn.

Outperforming the majority of investors requires doing what they are not doing. Buying when others have despaired, and selling when they are full of hope, takes fortitude.