Invest in what you know.

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

Charts are great for predicting the past.

If you go to Minnesota in January, you should know that it's gonna be cold. You don't panic when the thermometer falls below zero.

Bargains are the holy grail of the true stockpicker. The fact that 10 to 30 percent of our net worth is lost in a market sell-off is of little consequence. We see the latest correction not as a disaster but as an opportunity to acquire more shares at low prices. This is how great fortunes are made over time.

Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.

The Rule of 72 is useful in determining how fast money will grow. Take the annual return from any investment, expressed as a percentage, and divide it into 72. The result is the number of years it will take to double your money.