When somebody asserts that a stock has an earning power of so much, I am sure that the person who hears him doesn't know what he means, and there is a good chance that the man who uses it doesn't know what it means.

There is a close logical connection between the concept of a safety margin and the principle of diversification.

Always buy your straw hats in the Winter

Never buy a stock because it has gone up or sell one because it has gone down.

If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what`s going to happen to the stock market.

The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.

The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection of securities that are both sound and more attractive than the average.