Loss avoidance must be the cornerstone of your investment philosophy.

Never stop reading. History doesn't repeat, but it does rhyme.

Investing today may well be harder than it has been at any time in our three decades of existence.

When a government official says a problem has been "contained," pay no attention.

When all feels calm and prices surge, the markets may feel safe; but, in fact, they are dangerous because few investors are focusing on risk.

I don't have a Bloomberg on my desk. I don't care.

Rather, risk is a perception in each investor's mind that results from analysis of the probability and amount of potential loss from an investment. If an exploratory oil well proves to be a dry hole, it is called risky. If a bond defaults or a stock plunges in price, they are called risky. But if the well is a gusher, the bond matures on schedule, and the stock rallies strongly, can we say they weren't risky when the investment after it is concluded than was known when it was made.