Avoid Hot Stocks In Hot Industries.

The Biggest Winners Are Surprises To Me, And Takeovers Are Even More Surprising. It Takes Years, Not Months, To Produce Big Results.

When People Discover They Are No Good At Baseball Or Hockey, They Put Away Their Bats And Their Skates And They Take Up Amateur Golf Or Stamp Collecting Or Gardening. But When People Discover They Are No Good At Picking Stocks, They Are Likely To Continue To Do It Anyway.

Nobody Can Predict Interest Rates, The Future Direction Of The Economy Or The Stock Market. Dismiss All Such Forecasts And Concentrate On What's Actually Happening To The Companies In Which You've Invested

I've Always Said, The Key Organ Here Isn't The Brain, It's The Stomach. When Things Start To Decline - There Are Bad Headlines In The Papers And On Television - Will You Have The Stomach For The Market Volatility And The Broad-based Pessimism That Tends To Come With It?

You Just Don't Know When You Can Find The Bottom.