In my 45-year career as an investment counselor, humility did show me the need for worldwide diversification to reduce risk. That career did help me to become more and more humble because statistics showed that when I advised a client to buy one stock to replace another, about one-third of the time the client would have done better to ignore my advice. In other endeavors, humility about how little I know has encouraged me to listen more carefully and more wisely.

If we become increasingly humble about how little we know, we may be more eager to search.

Before this century is over, the Dow Jones Industrial Average will probably be over one million versus around 10,000 now. So for the long-term, the outlook is tremendously bullish if you buy stocks blindly to keep for a century.

You must be a fundamentalist to be really successful in the market.

A lot of people talk about life. Some love it. Some disparage it. And a few realize that life can be what you make it because they have learned from past experiences. Lessons learned from these experiences have often contributed greatly toward seeing the possibilities in what some people call "the game of life." When we've "been there" and "done that," we can have as good of an idea of what we don't want as what we do want. Experience is certainly an excellent teacher!

I'm really convinced that our descendants a century or two from now will look back at us with the same pity that we have toward the people in the field of science two centuries ago.

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