Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.

To have a true investment, there must be a true margin of safety. And a true margin of safety is one that can be demonstrated by figures, by persuasive reasoning, and by reference to a body of actual experience.

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

The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.

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

If you are shopping for common stocks, choose them the way you would buy groceries, not the way you would buy perfume.

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