You have to let the big ones make up for your mistakes.

You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets.

The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.

If you can't find any companies that you think are attractive, put your money in the bank until you discover some.

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

During the Gold Rush, most would-be miners lost money, but people who sold them picks, shovels, tents and blue-jeans (Levi Strauss) made a nice profit.

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.