If you aren't thinking about owning a stock for ten years, don't even think about owning it for ten minutes. - Warren Buffett

You couldn't advance in a finance department in this country unless you taught that the world was flat.

So smile when you read a headline that says “Investors lose as market falls.” Edit it in your mind to “Disinvestors lose as market falls — but investors gain.” Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: “Every putt makes someone happy.”)

For Buffett, managers are stewards of shareholder capital. The best managers think like owners in making business decisions.