"To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework."
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful."
"Investing isn’t about beating others at their game. It's about controlling yourself at your own game.”
“The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”
“Successful investing is about managing risk, not avoiding it.”
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."
"The financial markets generally are unpredictable. So one has to have different scenarios. The idea that you can actually predict what's going to happen contradicts my way of looking at the market."
"The only thing to do when a person is wrong is to be right, by ceasing to be wrong. Cut your losses quickly, without hesitation. Don’t waste time. When a stock moves below a mental-stop, sell it immediately."
"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
"There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly built into human nature, that always gets in the way of human intelligence. Of this I am sure."
"They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side."