- Confidence in your strategy will rise and fall in lock-step with asset prices.
- History & psychology are the most important subjects for investors to study.
- Consistently avoiding ruin is the most underrated financial skill.
- The biggest factor that will impact your returns is your holding period.
- "Make more, spend less, invest simply, and wait longer" is the best financial advice there is.
- Selling a mega-winner early is the most expensive investing mistake you can make.
- Panic selling once can destroy years of good investment decisions in seconds.
- Trimming winners and doubling down on losers is a terrible strategy. The opposite works much better.
- You're going to be wrong. A lot.
- The stock market will always attract people who are in a rush to build wealth and build wealth for people who are not in a rush.
- "Do nothing" is almost always the right move.