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

An investor calculates what a stock is worth, based on the value of its businesses.

To be an investor you must be a believer in a better tomorrow.

Both individual skill (art) and chance are important factors in determining success or failure.

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

The market is always making mountains out of molehills and exaggerating ordinary vicissitudes into major setbacks.

Losing some money is an inevitable part of investing, and there's nothing you can do to prevent it. But to be an intelligent investor, you must take responsibility for ensuring that you never lose most or all of your money.