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.

Undervaluations caused by neglect or prejudice may persist for an inconveniently long time, and the same applies to inflated prices caused by over-enthusiasm or artificial stimulants.

The determining trait of the enterprising (or active, or aggressive) investor is his willingness to devote time and care to the selection of securities that are both sound and more attractive than the average.

Obvious prospects for physical growth in a business do not translate into obvious profits for investors.

At heart, "uncertainty" and "investing" are synonyms.

To establish the right price for a stock, the market must have adequate information, but it by no means follows that is the market has this information it will thereupon establish the right price.

Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.