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.

To see how much a company is truly earning on the capital it deploys in its businesses, look beyond EPS to Return on Invested Capital (ROIC).

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

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.

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

I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities.