Avoid hot stocks in hot industries.

If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

There seems to be an unwritten rule on Wall Street: If you don't understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product.

Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.

It isn't the head but the stomach that determines the fate of the stockpicker.

You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.

The real key to making money in stocks is not to get scared out of them.