Spend at least as much time researching a stock as you would choosing a refrigerator.

The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.

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

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

You have to keep your priorities straight if you plan to do well in stocks.

I talk to hundreds of companies a year and spend hour after hour in heady pow-wows with CEOs, financial analysts and my colleagues in the mutual-fund business, but I stumble onto the big winners in extracurricular situations, the same way you do.

Spend at least as much time researching a stock as you would choosing a refrigerator.