- I believe in analysis and not forecasting
- I became over-confident, and that is the most dangerous state of mind anyone can develop in the stock market
- All a company report and balance sheet can tell you is the past and the present. They cannot tell future
- Self-disciplined and patience
- I decided never again to risk more money than I could afford to lose without ruining myself
- I was successful in taking larger profits than losses in proportion to the amounts invested
- I also learned to stay out of bear markets unless my individual stocks remain in their boxes or advance