Try not to lose money. The way to make money in the stock market is not to be afraid of losing it.

I don't go to many meetings. I find reading the reports is usually more informative than talking to management.

Have patience. Stocks don't go up immediately.

Simplicity is the key to all true elegance.

-- Coco Chanel

The most important thing is being attentive to cycles.

-- Howard Marks

You can't predict. You can prepare.

-- Howard Marks

I try to invest in companies where the downside is limited and the upside is significant.

-- Bruce Berkowitz

Concentration is the key. If you believe in something, you should bet big on it.

-- Bruce Berkowitz

The bulls might be right that the company's accounting is fine, but they're asking us to take it on faith. We prefer to verify.

-- David Einhorn