Owning Stocks Is Like Having Children -

So While I Was In College I Did A Little Study On The Freight Industry, The Air Freight Industry. And I Looked At This Company Called Flying Tiger. And I Actually Put A Thousand Dollars In It And I Remember I Thought This Air Cargo Was Going To Be A Thing Of The Future.

Absent A Lot Of Surprises, Stocks Are Relatively Predictable Over Twenty Years. As To Whether They're Going To Be Higher Or Lower In Two To Three Years, You Might As Well Flip A Coin To Decide.

Logic Is The Subject That Has Helped Me Most In Picking Stocks, If Only Because It Taught Me To Identify The Peculiar Illogic Of Wall Street. Actually Wall Street Thinks Just As The Greeks Did. The Early Greeks Used To Sit Around For Days And Debate How Many Teeth A Horse Has. They Thought They Could Figure It Out Just By Sitting There, Instead Of Checking The Horse. A Lot Of Investors Sit Around And Debate Whether A Stock Is Going Up, As If The Financial Muse Will Give Them The Answer, Instead Of Checking The Company.

I Deal In Facts, Not Forecasting The Future. That's Crystal Ball Stuff. That Doesn't Work.

It Isn't The Head But The Stomach That Determines The Fate Of The Stockpicker.