If all the economists in the world were laid end to end, it wouldn't be a bad thing.

Long shots almost always miss the mark.

If you can't find any companies that you think are attractive, put your money in the bank until you discover some.

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

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

The S&P is up 343.8 percent for 10 years. That is a four-bagger. The general equity funds are up 283 percent. So it's getting worse, the deterioration by professionals is getting worse. The public would be better off in an index fund.

An important key to investing is to remember that stocks are not lottery tickets.