You just don't know when you can find the bottom.
It only takes a handful of big winners to make a lifetime of investing worthwhile.
Everyone has the brain power to make money in stocks. Not everyone has the stomach.
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.
I don't go near the money and the money doesn't go near me.
In the summer of 1990, I was buying stocks and I was probably three or four months early there. But we had a great rally in 1991.