Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.

Who would think of buying or selling a private business because of someone's guess on the stock market? The availability of a quotation for your business interest (stock) should always be an asset to be utilized if desired. If it gets silly enough in either direction, you take advantage of it. Its availability should never be turned into a livability whereby its periodic aberrations in turn formulate your judgements.

My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.

Growth and value investing are joined at the hip.

Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the circle.

Don't settle for anything other than your passion - if you're lucky enough to find it.

We continue to make more money when snoring than when active.