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.

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

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.

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

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.

The idea is to buy when the probability is greatest that the market is going to advance.

Patience is one of the most valuable attributes in investing.