High valuations entail high risks.

By developing your discipline and courage, you can refuse to let other people's mood swings govern your financial destiny. In the end, how your investments behave is much less important than how you behave.

The only thing you should do with pro forma earnings is ignore them.

If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.

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.

The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.

We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.