I spend about fifteen minutes a year on economic analysis.

If you can follow only one bit of data, follow the earnings - assuming the company in question has earnings. I subscribe to the crusty notion that sooner or later earnings make or break an investment in equities. What the stock price does today, tomorrow, or next week is only a distraction.

When management owns stock, then rewarding the shareholders becomes a first priority, whereas when management simply collects a paycheck, then increasing salaries becomes a first priority.

If you're lucky enough to have been rewarded in life to the degree that I have, there comes a point at which you have to decide whether to become a slave to your net worth by devoting the rest of your life to increasing it or to let what you've accumulated begin to serve you.

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

There's a company behind every stock and a reason companies - and their stocks - perform the way they do.

In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.