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

Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.

Avoid hot stocks in hot industries.

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.

If all the economists in the world were laid end to end, it wouldn't be a bad thing.

All you need for a lifetime of successful investing is a few big winners, and the pluses from those will overwhelm the minuses from the stocks that don't work out.

Never invest in any idea you can't illustrate with a crayon