There's lots of stocks out there and all you need is a few of 'em. That's been my philosophy.

When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30. You just don't know when you can find the bottom.

I spend about fifteen minutes a year on economic analysis.

If you can find a company that can get away with raising prices year after year without losing customers (an addictive product such as cigarettes fills the bill), you've got a terrific investment.

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

People who want to know how stocks fared on any given day ask, "Where did the Dow close?" I'm more interested in how many stocks went up versus how many went down. These so-called advance/decline numbers paint a more realistic picture.

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