MARKET-TIMING

Be fearful when others are greedy and greedy when others are fearful.

The window of opportunity in consumer investing is usually when the category looks broken to everyone else. That's when the new model can get traction.

The window for any structural shift is always shorter than you think. Being a year early in venture is often just as bad as being a year late.

I believe in getting in at the bottom and out at the top.

I made my money by selling too soon.

The whole market direction — whether we are in an uptrend or a downtrend — is the single most important variable to consider when deciding whether to buy stocks at all.

I have found that time is more important than price. Get in at the right time and price takes care of itself.