An investment business has certain risks, and your job as an investor is not to eliminate all risks but to manage and minimize them.

Don’t be fearful of risks. Understand them, and manage and minimize them to an acceptable level.

The decision to invest in an asset class must be rational, not emotional.

Your decision to invest, or not to invest, should be based on pure economics. There is no moral obligation to invest. For moral causes, do charity, do not make investments.

It is not essential to know when the market will go down. The important thing is what you do when it does.

The outcome of an investment does not make it right or wrong.

Being realistic is not about being ordinary or being below average. It is about being honest with investment potentials.

To be a successful investor, you don't need to take excessive risks and be involved in all sorts of financial instruments. You need to understand your risk appetite and understand a few asset classes well. Stay within your boundaries, and your wealth will grow at a decent pace.

Trading is not only a zero-sum game but an aggregate negative after deducting the trading cost and research expenses. Somebody’s gain is somebody’s loss, so the professional traders win the game because they have significant advantages over retail traders.