A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value that does not depend on its share price.

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

The intelligent investor is a realist who sells to optimists and buys from pessimists.

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.

Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal.

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.

Never buy a stock because it has gone up or sell one because it has gone down.