I measure what's going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend.

I measure what's going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend.

To me, the "tape" is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!

Too many people are apt to redeem their profits too quickly. In a huge bull market they wind up with piddling profits, only to watch their former holdings soar. That usually prompts them into making mistakes later when, believing that the market owes them some money, they buy at the wrong time at much higher levels.

It's OK to be wrong; it's unforgivable to stay wrong.

Patience is one of the most valuable attributes in investing.

One of the frustrating things for people who miss the first rally in a bull market is that they wait for the big correction and it never comes. The market just keeps climbing and climbing. It feeds on itself in frenzied fashion and propels prices considerably higher for six months or so, and sometimes longer.