● Successful investing is a two-way street. Beyond having a firm grasp on how to identify quality investments, one must keep in mind that building up one's assets is, if not a lifetime project, one that usually spans a period of many years. New cash should be added to investment accounts as faithfully and regularly as life insurance premiums are paid, irrespective of the outlook for stock prices. ● If new cash is regularly added to a sound investment plan, and if properly qualified stocks are purchased, the investor will have secured their commitments at fair average prices. What this portfolio may do price-wise over the next week, month, or even several years after their purchase is relatively unimportant. The trust test of soundness for the investment plan will be how much the market value and dividends have increased by the end of ten or twenty years. ● Keeping a long-term focus is one of the hardest things to do in today's investment environment. That is why, of all the qualifications for success in investing, none is more important than a firm mind. Investigating thoroughly and intelligently allows the investor to remain unswayed by every breeze, satisfied as to the soundness and progressiveness of their overall portfolio holdings. Remaining resolute and calm in periods of great uncertainty likely leads to the most favorable lifetime returns and keeps one from making emotional or premature decisions. ● Do not focus on a particular investment "style" or "trend," but rather on making solid and repeatable returns by owning the highest quality investments possible. That is a timeless strategy. ● For all long-term investors, there is only one objective: maximum total real returns after taxes. ● Achieving good investment results requires much study and work and is a lot harder than most people think. ● It is impossible to produce superior performance unless you do something different than the majority. ● Bear markets (aka bad markets) have always been temporary. Share prices turn upward twelve months before the bottom of the business cycle. ● While innovation should characterize all enduring growth investments, the ability to make money out of innovation is of primary importance. ● Warren Buffett says that nothing creates and maintains wealth better than the ownership of a great business.