If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.

You just don't know when you can find the bottom.

Imagine if you borrowed your parents' car without permission and ran it into a tree, how much better you'd feel if you were incorporated.

Never invest in any idea you can't illustrate with a crayon

The simpler it is, the better I like it.

Never buy anything that you can't illustrate on the back of a napkin.

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