Rule No. 1: Never lose money. It’s not OK to lose money. If it’s a gamble, stay away.
Rule No. 2: Never forget rule no. 1. Stay focused on your goals.
Rule No. 3: If the business does well, the stock eventually follows.
Rule No. 4: It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Rule No. 5: If you don’t feel comfortable owning a stock for 10 years, you shouldn’t own it for 10 minutes.