It isn't the head but the stomach that determines the fate of the stockpicker.

Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.

In stocks as in romance, ease of divorce is not a sound basis for commitment.

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.

The basic story remains simple and never-ending. Stocks aren't lottery tickets. There's a company attached to every share.

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.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'