The investor's chief problem - and even his worst enemy - is likely to be himself.

Obvious prospects for physical growth in a business do not translate into obvious profits for investors.

In the short run, the market is a voting machine, but in the long run it is a weighing machine.

The best values today are often found in the stocks that were once hot and have since gone cold.

The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.

It requires strength of character in order to think and to act in opposite fashion from the crowd and also patience to wait for opportunities that may be spaced years apart.

The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.