Just because you buy a stock and it goes up does not mean you are right. Just because you buy a stock and it goes down does not mean you are wrong.

You just don't know when you can find the bottom.

There's a company behind every stock and a reason companies - and their stocks - perform the way they do.

As I look back on it now, it's obvious that studying history and philosophy was much better preparation for the stock market than, say, studying statistics.

Imagine if you borrowed your parents' car without permission and ran it into a tree, how much better you'd feel if you were incorporated.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'

Long-term investing has gotten so popular, it's easier to admit you're a crack addict than to admit you're a short-term investor.