Do not take yearly results too seriously. Instead, focus on four or five-year averages.

Don't pass up something that's attractive today because you think you will find something way more attractive tomorrow.

Beware of geeks bearing formulas.

Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant.

If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.

Wide diversification is only required when investors do not understand what they are doing.