Everyone has the brain power to make money in stocks. Not everyone has the stomach.

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.

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.

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

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

Twenty years in this business convinces me that any normal person using the customary three percent of the brain can pick stocks just as well, if not better, than the average Wall Street expert.

It only takes a handful of big winners to make a lifetime of investing worthwhile.