Rule No.1: Never Lose Money. Rule No.2:

The Best Thing That Happens To Us Is When A Great Company Gets Into Temporary Trouble...we Want To Buy Them When They're On The Operating Table.

If You Expect To Be A Net Saver During The Next 5 Years, Should You Hope For A Higher Or Lower Stock Market During That Period? Many Investors Get This One Wrong. Even Though They Are Going To Be Net Buyers Of Stocks For Many Years To Come, They Are Elated When Stock Prices Rise And Depressed When They Fall. This Reaction Makes No Sense. Only Those Who Will Be Sellers Of Equities In The Near Future Should Be Happy At Seeing Stocks Rise. Prospective Purchasers Should Much Prefer Sinking Prices.

Do Not Put All Your Eggs In One Basket.

Look For 3 Things In A Person. Intelligence, Energy, & Integrity. If They Don't Have The Last One, Don't Even Bother With The First Two.

I Was Lucky To Have The Right Heroes. Tell Me Who Your Heroes Are And I'll Tell You How You'll Turn Out To Be. The Qualities Of The One You Admire Are The Traits That You, With A Little Practice, Can Make Your Own, And That, If Practiced, Will Become Habit Forming.