Never invest in anything that cannot be illustrated with a crayon
My high-tech aversion caused me to make fun of the typical biotech enterprise: $100 million in cash from selling shares, one hundred Ph.D.'s, 99 microscopes, and zero revenues.
Everyone has the brain power to make money in stocks. Not everyone has the stomach.
I don't go near the money and the money doesn't go near me.
Avoid hot stocks in hot industries.
You can't see the future through a rearview mirror