Mr. Market does not always price stocks the way an appraiser or a private buyer would value a business. Instead, when stocks are going up, he happily pays more than their objective value; and, when they are going down, he is desperate to dump them for less than their true worth.

Real investment risk is measured not by the percent that a stock may decline in price in relation to the general market in a given period, but by the danger of a loss of quality and earnings power through economic changes or deterioration in management.

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.

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

The value of any investment is, and always must be, a function of the price you pay for it.

The memory of the financial community is proverbially and distressingly short.

Always buy your straw hats in the Winter