The most striking thing about Graham's discussion of how to allocate your assets between stocks and bonds is that he never mentions the word "age".

It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps.

I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.

Successful investing is about managing risk, not avoiding it.

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

High valuations entail high risks.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.