You could be somewhere where the mail was delayed three weeks and do just fine investing.

The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game.

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

I did not think I would see the day when, you know, an AIG would not be able to have its checks clear.

Investing is forgoing consumption now in order to have the ability to consume more at a later date.

If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?

The real fortunes in this country have been made by people who have been right about the business they invested in, and not right about the timing of the stock market.