The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes wrong.

The true investor... will do better if he forgets about the stock market and pays attention to his dividend returns and to the operation results of his companies.

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

A speculator gambles that a stock will go up in price because somebody else will pay even more for it.

The correct attitude of the security analyst toward the stock market might well be that of a man toward his wife. He shouldn't pay too much attention to what the lady says, but he can't afford to ignore it entirely. That is pretty much the position that most of us find ourselves vis-à-vis the stock market.

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

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