If you have more than 120 or 130 I.Q. points, you can afford to give the rest away. You don't need extraordinary intelligence to succeed as an investor.

The key to success is emotional stability.

The good thing is, we have household formation in this country.

If the reason for doing something is that everyone else is doing it, it's not a good enough reason.

Uncertainty is the friend of the buyer of long term values.

I think confidence will come back.

Buy into a company because you want to own it, not because you want the stock to go up.