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.

I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

Focus alone is not enough; putting in the time to commit is also crucial to achieve success.

My friends and I have been coddled long enough by a billionaire-friendly Congress.

Focus on your customers and lead your people as though their lives depend on your success.

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.

Cash combined with courage in a time of crisis is priceless.