I think the worst mistake you can make in stocks is to buy or sell based on current headlines.

Stop trying to predict the direction of the stock market, the economy or elections.

You don't ever ask a barber whether you need a haircut.

I would say the biggest single cause was we had an incredible residential real estate bubble.

I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.

To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.

Sound investing can make you very wealthy if you're not in too big a hurry