You Just Don't Know When You Can

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?

People Who Want To Know How Stocks Fared On Any Given Day Ask, "where Did The Dow Close?" I'm More Interested In How Many Stocks Went Up Versus How Many Went Down. These So-called Advance/decline Numbers Paint A More Realistic Picture.

If You're Lucky Enough To Have Been Rewarded In Life To The Degree That I Have, There Comes A Point At Which You Have To Decide Whether To Become A Slave To Your Net Worth By Devoting The Rest Of Your Life To Increasing It Or To Let What You've Accumulated Begin To Serve You.

Invest In What You Know.

A Price Drop In A Good Stock Is Only A Tragedy If You Sell At That Price And Never Buy More. To Me, A Price Drop Is An Opportunity To Load Up On Bargains From Among Your Worst Performers And Your Laggards That Show Promise. If You Can't Convince Yourself "when I'm Down 25 Percent, I'm A Buyer" And Banish Forever The Fatal Thought "when I'm Down 25 Percent, I'm A Seller," Then You'll Never Make A Decent Profit In Stocks.