BILL BONNER: Here’s our investment philosophy:

1) Think a lot. Do a little.

2) Always buy low. And for safe measure, very low.

3) Never believe anything a salesman says about an investment. There’s a good chance that he is ignorant, dishonest or stupid. Or all three.

4) Be reasonable. But take a swing at a grand slam pitch from time to time. Heck, it’s not just about the money; it should be fun, too.

5) Remember, the investment world is like the rest of life. Patience, modesty, and hard work pay off. Vanity, weakness, and cupidity do not