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

The investor's chief problem - and even his worst enemy - is likely to be himself.

Abnormally good or abnormally bad conditions do not last forever.

Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.

An investor calculates what a stock is worth, based on the value of its businesses.

High valuations entail high risks.