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.

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

A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.

The essence of investment management is the management of risks, not the management of returns.

The intelligent investor is a realist who sells to optimists and buys from pessimists.

Investing isn't about beating others at their game. It's about controlling yourself at your own game.

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.