The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.

My view is that an investor is better off knowing a lot about a few investments than knowing a little about each of a great many holdings. One's very best idea's are likely to generate higher returns for a given level of risk than one's hundredth or thousandth best idea.

Courage is a function of process.

In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a speculative undertaking.

Always look for forced urgent selling.

Successful investors must temper the arrogance of taking a stand with a large dose of humility, accepting that despite their efforts and care, they may in fact be wrong.

The overwhelming majority of people are comfortable with consensus, but successful investors tend to have a contrarian bent.