Never invest in anything that cannot be illustrated with a crayon

Your investor's edge is not something you get from Wall Street experts. It's something you already have. You can outperform the experts if you use your edge by investing in companies or industries you already understand.

There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.

If you have the stomach for stocks, but neither the time nor the inclination to do the homework, invest in equity mutual funds.

In business, competition is never as healthy as total domination.

If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.