Traditionally the investor has been the man with patience and the courage of his convictions who would buy when the harried or disheartened speculator was selling.

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

The beauty of periodic rebalancing is that it forces you to base your investing decisions on a simple, objective standard.

Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before.

To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

Evidently stockholders have forgotten more than to look at balance sheets. They have forgotten also that they are owners of a business and not merely owners of a quotation on the stock ticker. It is time, and high time, that the millions of American shareholders turned their eyes from the daily market reports long enough to give some attention to the enterprises themselves of which they are the proprietors, and which exist for their benefit and at their pleasure.

We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.