An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.

Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.

We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let him study security values and initially test out his judgment on price versus value with the smallest possible sums.

Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment.

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

Always buy your straw hats in the Winter

In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.