There are two types of people in this world: cheap f***s (CFs)—people who spend a little—and high rollers—people who spend a lot.
I have had about 10–12 interns over the years, and I have taught a lot of college students, and occasionally I have smart interns or smart college students, but the one thing that absolutely cannot be taught is the killer instinct. You either have it or you don’t. You either have the insatiable desire to succeed or you don’t.
When most people buy stocks, they find cheap ones and wonder why their trades don't work.
The stock market is no place for amateurs.
The other night, my wife and I went out for dinner. When it came time to order dessert, I couldn’t help but think, “Is it really worth shelling out $13 for a piece of cake when we have other expenses, like building a big house?”
One of the fundamental principles in investing is knowing when to cut your losses.