When I first heard them, they sounded reasonable, but I didn’t know if they were just folksy wisdom or hard truths. I tried to resolve which is what. They are all hard truths.
1. You can’t stand to see your neighbor getting rich. You know you’re smarter than he is and he’s doing these things and he’s getting rich
2. The stock market can remain irrational longer than you can remain solvent
3. I recommend the S&P 500 index fund (from a money manager)
4. The most important quality for an investor is temperament, not intellect
5. I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches—representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all.
6. If a bird in the hand is worth two in the bush, the question becomes: When?