Buy companies that thrive no matter what:
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2. Returns are skewed, so be picky: Only five stocks (Apple, Exxon Mobil, Microsoft, General Electric, and IBM) accounted for 10% of all the wealth created by the entire stock market from 1926–2016. Similarly, only 4% of stocks accounted for all the wealth created by the entire stock market over the same period. The implication?​ You have to be picky as a small minority of stocks drive a majority of returns

3. Don't aim to outperform the market by 1-2%; aim to build a seven or eight figure net worth in the stock market: Warren Buffett was a regular person who became a multi-billionaire by trading stocks. Why can't you get ultra wealthy as well?

5. Don't try to pick winners - just avoid the losers:​ In an amateur tennis match, the one who wins isn't the one who places the best shots. It's the one who avoids screwing up and just gets the ball over the net. It turns out that investing isn't any different. You don't win by placing the best bets. You win by not screwing up.

Industry matters: You can be wrong about the stock, but still make a fortune if you are invested in the right industry
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Cash flow counts: Every company is like a machine that prints cash flow. Your job is to find a machine that prints lots of cash flow compared to the cost of buying the machine.
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Buy unwanted stocks: It's easy for management to surpass investors' expectations if investors don't expect the company to perform that well in the first place. 
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