The only thing you should do with pro forma earnings is ignore them.

High valuations entail high risks.

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster

Most businesses change in character and quality over the years, sometimes for the better, perhaps more often for the worse. The investor need not watch his companies' performance like a hawk; but he should give it a good, hard look from time to time.

The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes wrong.

Before you place your financial future in the hands of an adviser, it's imperative that you find someone who not only makes you comfortable but whose honesty is beyond reproach.

Wall Street people learn nothing and forget everything.