Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.

The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.

There are substantial rewards for adopting a regular routine of investing and following it no matter what, and additional rewards for buying more shares when most investors are scared into selling.

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.

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

It only takes a handful of big winners to make a lifetime of investing worthwhile.

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