“Rule No. 1: Never Lose Money. Rule

My Father Was The Best Person I've Ever Known.

The Less Prudence With Which Others Conduct Their Affairs, The Greater The Prudence With Which We Should Conduct Our Own Affairs.

Uncertainty Is The Friend Of The Buyer Of Long Term Values.

Investors, Of Course, Can, By Their Own Behavior Make Stock Ownership Highly Risky. And Many Do. Active Trading, Attempts To "time" Market Movements, Inadequate Diversification, The Payment Of High And Unnecessary Fees To Managers And Advisors, And The Use Of Borrowed Money Can Destroy The Decent Returns That A Life-long Owner Of Equities Would Otherwise Enjoy. Indeed, Borrowed Money Has No Place In The Investor's Tool Kit.

Too Often, A Vast Collection Of Possessions Ends Up Possessing Its Owner. The Asset I Most Value, Aside From Health, Is Interesting, Diverse, And Long-standing Friends.