The investor's chief problem - and even his worst enemy - is likely to be himself.

There is a close logical connection between the concept of a safety margin and the principle of diversification.

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

there is a tendency in part of Wall Street people to pay excessive attention to the most recent figures and the present financial picture.

... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.

The essence of investment management is the management of risks, not the management of returns.

The intelligent investor is likely to need considerable will power to keep from following the crowd.