Equity mutual funds are the perfect solution for people who want to own stocks without doing their own research.

Avoid hot stocks in hot industries.

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.

The typical big winner in the Lynch portfolio generally takes three to ten years to play out.

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

Twenty years in this business convinces me that any normal person using the customary three percent of the brain can pick stocks just as well, if not better, than the average Wall Street expert.

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