Words of Wisdom

Don\'t cry because it\'s over. Smile because it happened.

Abstention on the part of those who won��t venture in creates opportunities for those who will.

Many of the best bargains at any point in time are found among the things other investors can��t or won��t do.

One of the great sayings about poker is that ��in every game there��s a fish. If you��ve played for 45 minutes and haven��t figured out who the fish is, then it��s you.��

If riskier investments could be counted on to produce higher returns, they wouldn��t be riskier.

In theory there��s no difference between theory and practice, but in practice there is. ~ Yogi Berra

You can��t do the same things others do and expect to outperform. . . .Unconventionality shouldn��t be a goal in itself, but rather a way of thinking.

In basketball they say, ��You can��t coach height,�� meaning all the coaching in the world won��t make a player taller.

As with any other art form, some people just understand investing better than others. They have�X or manage to acquire�X that necessary ��trace of wisdom�� that Ben Graham so eloquently calls for.

Investing, like economics, is more art than science. And that means it can get a little messy.

An investment approach may work for a while, but eventually the actions it calls for will change the environment, meaning a new approach is needed.

If others emulate an approach, that will blunt its effectiveness.

Psychology plays a major role in markets, and because it��s highly variable, cause-and-effect relationships aren��t reliable.

No rule always works.

Valid approaches work some of the time but not all.

Investing can��t be reduced to an algorithm and turned over to a computer.

Even the best investors don��t get it right every time.

Few people have what it takes to be great investors.

Everything should be made as simple as possible, but not simpler. ~ Albert Einstein

The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor with a minimum of effort and capability.... ~ Ben Graham