The sillier the market's behavior, the greater the opportunity for the business like investor.

The intelligent investor shouldn't ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.

The most striking thing about Graham's discussion of how to allocate your assets between stocks and bonds is that he never mentions the word "age".

Only in the exceptional case, where the integrity and competence of the advisers have been thoroughly demonstrated, should the investor act upon the advice of others without understanding and approving the decision made.

The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.

You must never delude yourself into thinking that you're investing when you're speculating.

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