If you buy all the stocks selling at or below two times earnings, you will lose money on half of them because instead of making profits they will actually lose money, but you will only lose a dollar or so a share at most. Then others will be mediocre performers. But the remaining big winners will go up and produce fabulous results and also ensure a good overall result.

I served for 42 years on the board of trustees of the largest Presbyterian seminary, Princeton Theological Seminary, and we had brilliant people - teachers and students both-but they did not come up with many new concepts. They weren't invited to come up with new concepts. Anybody who had come up with a new concept would have been under suspicion for being out of step with the tradition or out of step with the teachings of the church.

Those who spend too much will eventually be owned by those who are thrifty.

Taking responsibility nurtures self-confidence, and self-confidence can help you to be a more interesting and attractive person. And best of all, the more you believe in yourself, the more power you possess to attract your good. . . . Those who speak constantly of their right to freedom must understand that an irresponsible act does not bring greater freedom but only greater bondage to the action. One law of life says, "If we are to enjoy freedom, we must accept responsibility." A great awareness is expressed in this statement.

An attitude of gratitude creates blessings. Help yourself by helping others. You have the most powerful weapons on earth - love and prayer.

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.

Invest at the point of maximum pessimism.