I always knew I was going to be rich. I don't think I ever doubted it for a minute."

"I never attempt to make money on the stock market. I buy on the assumption that they could close the market could close the next day and not reopen it for five years".

"If the business does 'well, the stock eventually follows."

"If the past history was all there was to the game, the richest people would be librarians."

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

"Look at your market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."

"Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had the money, they simply jerks with billion dollars."

"Price is what you pay. Value is what you get."

"Risk comes from not knowing what you're doing."

"Wide diversification is only required when investors do not understand what, they are doing."

"Only buy something that you are perfectly happy to hold If the market shutdown for 10 years."

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

"Why not invest your assets in the companies you really like? As Mae West said, "Too much of good things can be wonderful."

"Your premium brand had better be delivering something special, or it's not going to get its business."

"Our favorite holding period is forever. "

" If at first you succeed, quit trying."

"I don't try to jump over seven-foot bars. I look around for one-foot bars that I can step over."

“Dalal Street is the only place that people ride to in a Mercedes to get to get the advice from those who travel in trains”

"There are two kinds of people in the world: those who can count, and those who can't."

"A public opinion poll is no substitute for thought."

"Chains of habit are too light to be felt until they are too heavy to be broken."

"Rule No.1: Never lose money. Rule No.2: Never forget rule No. 1."

"The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective."

"The investor of today does not profit from yesterday's growth."

The smarter the journalists are, the better off society is. For to a degree; people read the press to inform themselves - and the better the teacher, the better the student body.""

"There seem to be perverse human characteristic that likes to make easy things difficult."

"We enjoy the process far more than the proceeds."

"When management with a reputation for brilliance tackles business with a reputation of bad economics, it is the reputation of the business that remains intact."

"You do thing when opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing."

"You only have to do a very few things right in your life so long as you don't do too many things wrong."

"What comes by nature costs no money."

"When Elephants fights, it is the grass that suffers."

"There are three faithful friends an old wife, an old dog & ready money."

"Money is the good servant but a bad master."

"No man ever had a enough money."

"Where profit is, loss is hidden nearby."

"Better a steady dime than a ready dollar."

"The real price of everything is the toil & trouble of acquiring it"

When a man says money can do anything, that settles it: he hasn't any".

"With money you command the devil without it you can't even summon a man."

"One machine can do the work of fifty ordinary men, no machine can do the work of one extra ordinary man."

"The best executive is the one who has sense enough to pick good men to do what he wants done & self restrained enough to keep from meddling with them while they do it".

"After a certain point money is meaningless. It ceases to the goal & the gain that counts."

"Someone's sitting in the shade today because someone planted a tree a long time ago."

"Risk comes from not knowing what you're doing."

Be open-minded when selecting companies: Many great companies are household names, but many good investments are not household names (and vice versa). Thousands of smaller companies have the potential to turn into the large blue chips of tomorrow. In fact, historically, small-caps have had greater returns than large-caps.

This does not imply that you should devote your entire portfolio to small-cap stocks. Rather, understand that there are many great companies & opportunities, and that by neglecting all these lesser-known companies; you could also be neglecting some of the biggest gains.

Don't chase the "hot tip": No one can ever guarantee what a stock will do. When you make an investment, it's important you know the reasons for doing so. Do your own research and analysis of any company before you even consider investing your hard earned money? Relying on a tidbit of information from someone else is not only an attempt at taking the easy way out; it's also a type of gambling. Sure, with some luck, tips may sometimes pan out. But they will never make you an informed investor, which is what you need to be to be successful in the long run.

Pick a strategy and stick with it: Different people use different methods to pick & exit stocks. There are many ways to be successful and no one strategy is inherently better than any other. However, once you find your style, stick with it. An investor who flounders between different stock-picking strategies will probably experience the worst, rather than the best, of each. Constantly switching strategies effectively makes you a market timer, and this is definitely territory most investors should avoid. Take Warren Buffet’s actions during the dotcom boom of the late '90s as an example. Buffet’s value-oriented strategy had worked for him for decades, and - despite criticism from the media - it prevented him from getting sucked into tech startups that had no earnings and eventually crashed.

Sell the losers and let the winners ride: Time and time again, investors take profits by selling their appreciated investments, but they hold onto stocks that have declined in hopes of a rebound. If an investor doesn't know when it's time to let go of hopeless stocks, he or she can, in the worst-case scenario, see the stock sink to the point where it is almost worthless. Of course, the idea of holding onto high-quality investments while selling the poor ones is great in theory, but hard to put into practice. The following information might help:

Riding a Winner - Don't underestimate a stock that is performing well by sticking to some rigid personal rule - if you don't have a good understanding of the potential of your investments, your personal rules may end up being arbitrary and too limiting. No one in the history of investing with a "sell-after-I-have-tripled-my-money" mentality has ever had a tenbagger.

Selling a Loser - There is no guarantee that a stock will bounce back after a protracted decline. While it's important not to underestimate good stocks, it's equally important to be realistic about investments that are performing badly. Recognizing your losers is hard because it's also an acknowledgment of your mistake. But it's important to be honest when you realize that a stock is not performing as well as you expected it to. Don't be afraid to swallow your pride and move on before your losses become even greater!

In the above said cases, the point is to judge companies on their merits according to your research. In each situation, you still have to decide whether a price justifies future potential. Just remember not to let your fears limit your returns or inflate your losses.

Don't sweat the small stuff: Importance of realizing when your investments are not performing as you expected them to - but remember to expect short-term fluctuations. As a long-term investor, you shouldn't panic when your investments experience short-term movements. When tracking the activities of your investments, you should look at the broader picture. Remember to be confident in the quality of your investments rather than nervous about the inevitable volatility of the short term. Also, don't overemphasize the few cents difference you might save from using a limit versus market order.

Granted, active traders will use these day-to-day and even minute-to-minute fluctuations as a way to make gains. But the gains of a long-term investor come from a completely different market movement - the one that occurs over many years - so keep your focus on developing your overall investment philosophy by educating yourself.

Investors adopt a long-term perspective: Large short-term profits can often entice those who are new to the market. But adopting a long-term horizon and dismissing the "get in, get out and make a killing" mentality is a must for any investor. This doesn't mean that it's impossible to make money by actively trading in the short term. But, as we already mentioned, investing and trading are very different ways of making gains from the market. Trading involves very different risks that buy-and-hold investors don't experience. As such, active trading requires certain specialized skills.

Neither investing style is necessarily better than the other - both have their pros and cons. But active trading can be wrong for someone without the appropriate time, financial resources, education and desire.