Charts are great for predicting the past.

Avoid hot stocks in hot industries.

If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.

A lot of people got in at the wrong time. A lot of people did very well and some people said, "This is it. I'll never get back in again." And they maybe meant it, but they probably got back in again anyway.

When even the analysts are bored, it's time to start buying.

In the summer of 1990, I was buying stocks and I was probably three or four months early there. But we had a great rally in 1991.

Visiting stores and testing products is one of the critical elements of the analyst's job.