An important key to investing is to remember that stocks are not lottery tickets.

A stock market decline is as routine as a January blizzard in Colorado. If you're prepared, it can't hurt you. A decline is a great opportunity to pick up the bargains left behind by investors who are fleeing the storm in panic.

Invest in businesses any idiot could run, because someday one will.

The basic story remains simple and never-ending. Stocks aren't lottery tickets. There's a company attached to every share.

Know what you own, and know why you own it.

The junior high schools and high schools of America have forgotten to teach one of the most important courses of all. Investing.

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