Time is on your side when you own shares of superior companies.

It isn't the head but the stomach that determines the fate of the stockpicker.

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.

The extravagance of any corporate office is directly proportional to management's reluctance to reward the shareholders.

When people discover they are no good at baseball or hockey, they put away their bats and their skates and they take up amateur golf or stamp collecting or gardening. But when people discover they are no good at picking stocks, they are likely to continue to do it anyway.

Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.

I deal in facts, not forecasting the future. That's crystal ball stuff. That doesn't work.