The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.

It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.

In the short run, the market is a voting machine, but in the long run it is a weighing machine.

Always buy your straw hats in the Winter

A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.

Losing some money is an inevitable part of investing, and there's nothing you can do to prevent it. But to be an intelligent investor, you must take responsibility for ensuring that you never lose most or all of your money.

Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment.