A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

You are neither right nor wrong because the crowd disagrees with you.

What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?

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

The stockmarket is a semi-psychotic creature given to extremes of elation and despair.

Take the high road; it's far less crowded.

Knowing what to leave out is just as important as knowing what to focus on.