Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested

The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.

Although it's easy to forget sometimes, a share is not a lottery ticket... it's part-ownership of a business.

Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.

When people discover they are no good at baseball or hockey, they put away their bats and their skates and they take up amateur golf or stamp collecting or gardening. But when people discover they are no good at picking stocks, they are likely to continue to do it anyway.

When you sell in desperation, you always sell cheap.

Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.