The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.

The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.

The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor with a minimum of effort and capability; but to improve this easily attainable standard requires much application and more than a trace of wisdom. If you merely try to bring just a little extra knowledge and cleverness to bear upon your investment program, instead of realizing a little better than normal results, you may well find that you have done worse.

If fees consume more than 1% of your assets annually, you should probably shop for another adviser.

Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.

The stock market resembles a huge laundry in which institutions take in large blocks of each others washing ... without rhyme or reason.

If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.