When Stocks Are Attractive, You Buy Them.

A Lot Of People Got In At The Wrong Time. A Lot Of People Did Very Well And Some People Said, "this Is It. I'll Never Get Back In Again." And They Maybe Meant It, But They Probably Got Back In Again Anyway.

If You Can't Find Any Companies That You Think Are Attractive, Put Your Money In The Bank Until You Discover Some.

There's No Use Diversifying Into Unknown Companies Just For The Sake Of Diversity. A Foolish Diversity Is The Hobgoblin Of Small Investors. That Said, It Isn't Safe To Own Just One Stock, Because In Spite Of Your Best Efforts, The One You Choose Might Be The Victim Of Unforeseen Circumstances. In Small Portfolios, I'd Be Comfortable Owning Between Three And Ten Stocks.

I'm Always Fully Invested. It's A Great Feeling To Be Caught With Your Pants Up.

My High-tech Aversion Caused Me To Make Fun Of The Typical Biotech Enterprise: $100 Million In Cash From Selling Shares, One Hundred Ph.d.'s, 99 Microscopes, And Zero Revenues.