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.

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

What makes stocks valuable in the long run isn't the market. It's the profitability of the shares in the companies you own. As corporate profits increase, corporations become more valuable and sooner or later, their shares will sell for a higher price.

Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.

There seems to be an unwritten rule on Wall Street: If you don't understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product.

You shouldn't just pick a stock - you should do your homework.

Behind every stock is a company. Find out what it's doing.