An investor needs to do very few things right as long as he or she avoids big mistakes.

If you have a harem of 40 women, you never get to know any of them very well.

The fundamental basis of above-average performance in the long run is sustainable competitive advantage.

Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.

[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.

Sound investing can make you very wealthy if you're not in too big a hurry

So smile when you read a headline that says "Investors lose as market falls." Edit it in your mind to "Disinvestors lose as market falls-but investors gain." Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: "Every putt makes someone happy.")