You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst.

Bluntly put, there's no chance that your doctor, dentist, or attorney is a high-school dropout. Your stockbroker, however, just might be.

The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.

It's human nature to find patterns where there are none and to find skill where luck is a more likely explanation (particularly if you're the lucky manager).

There are two kinds of investors, be thay large or small: those who don't know where the market is headed, and those who don't know that they don't know.

Do the math. Expect catastrophes. Whatever happens, stay the course.

Wall Street is littered with the bones of those who knew just what to do, but could not bring themselves to do it.