There's no use diversifying into unknown companies just for the sake of diversity. A foolish diversity is the hobgoblin of small investors. That said, it isn't safe to own just one stock, because in spite of your best efforts, the one you choose might be the victim of unforeseen circumstances. In small portfolios, I'd be comfortable owning between three and ten stocks.

Absent a lot of surprises, stocks are relatively predictable over twenty years. As to whether they're going to be higher or lower in two to three years, you might as well flip a coin to decide.

A stock market decline is as routine as a January blizzard in Colorado. If you're prepared, it can't hurt you. A decline is a great opportunity to pick up the bargains left behind by investors who are fleeing the storm in panic.

The more cash that builds up in the treasury, the greater the pressure to piss it away.

Everyone has the brain power to make money in stocks. Not everyone has the stomach.

All the time and effort people devote to picking the right fund, the hot hand, the great manager have, in most cases, led to no advantage.

An important key to investing is to remember that stocks are not lottery tickets.