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.

There's lots of stocks out there and all you need is a few of 'em. That's been my philosophy.

Avoid hot stocks in hot industries.

The most important organ in the body as far as the stock market is concerned is the guts, not the head. Anyone can acquire the know-how for analyzing stocks.

So while I was in college I did a little study on the freight industry, the air freight industry. And I looked at this company called Flying Tiger. And I actually put a thousand dollars in it and I remember I thought this air cargo was going to be a thing of the future.

You should not buy a stock because it's cheap but because you know a lot about it.

There is always something to worry about. Avoid weekend thinking and ignoring the latest dire predictions of the newscasters. Sell a stock because the company's fundamentals deteriorate, not because the sky is falling.