If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.
Warren BuffettThe stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.
Warren BuffettA single year's performance is of minor importance and, good or bad, should never be taken seriously.
Warren BuffettNevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.
Warren BuffettBen's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?
Warren Buffett