Successful investing is about managing risk, not avoiding it.

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.

The individual investor should act consistently as an investor and not as a speculator. This means ... that he should be able to justify every purchase he makes and each price he pays by impersonal, objective reasoning that satisfies him that he is getting more than his money's worth for his purchase.

Both individual skill (art) and chance are important factors in determining success or failure.

High valuations entail high risks.

Buy not on optimism, but on arithmetic.

The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.