An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.

The defensive (or passive) investor will place chief emphasis on the avoidance of serious mistakes or losses. His second aim will be freedom from effort, annoyance, and the need for making frequent decisions.

Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

Individuals who cannot master their emotions are ill-suited to profit from the investment process.

By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.

At heart, "uncertainty" and "investing" are synonyms.