It is madness to risk losing what you need in pursuing what you simply desire.

People should always know better.

I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.

It is obvious that the performance of a stock last year or last month is no reason, per se, to either own it or to not own it now. It is obvious that an inability to "get even" in a security that has declined is of no importance. It is obvious that the inner warm glow that results from having held a winner last year is of no importance in making a decision as to whether it belongs in an optimum portfolio this year.

Life is like a snowball. The important thing is finding wet snow and a really long hill.

We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.

If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.