If you're lucky enough to have been rewarded in life to the degree that I have, there comes a point at which you have to decide whether to become a slave to your net worth by devoting the rest of your life to increasing it or to let what you've accumulated begin to serve you.

The best stock to buy is the one you already own.

There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.

More money is lost anticipating the changes in the overall stock market than any other way of investing.

It would be wonderful if we could avoid the setbacks with timely exits, but nobody has figured out how to predict them.

You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.

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