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.

To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there's one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.

Successful investing is about managing risk, not avoiding it.

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

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.

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.