I'm always fully invested. It's a great feeling to be caught with your pants up.

Owning stocks is like having children - don't get involved with more than you can handle.

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.

If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

There is always something to worry about. Avoid weekend thinking and ignoring the latest dire predictions of the newscasters. Sell a stock because the company's fundamentals deteriorate, not because the sky is falling.

I'm always fully invested. It's a great feeling to be caught with your pants up.

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