In the summer of 1990, I was buying stocks and I was probably three or four months early there. But we had a great rally in 1991.

Avoid hot stocks in hot industries.

Time is on your side when you own shares of superior companies.

In the summer of 1990, I was buying stocks and I was probably three or four months early there. But we had a great rally in 1991.

I don't know anyone who said on their deathbed: 'Gee, I wish I'd spent more time at the office.'

I deal in facts, not forecasting the future. That's crystal ball stuff. That doesn't work.

The natural-born investor is a myth.