Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.

It always seemed, and still seems, ridiculously simple to say that if one can acquire a diversified group of common stocks at a price less than the applicable net current assets alone - after deducting all prior claims, and counting as zero the fixed and other assets - the results should be quite satisfactory.

Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individual issues.

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

Obvious prospects for physical growth in a business do not translate into obvious profits for investors.

The intelligent investor shouldn't ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.

The value of any investment is, and always must be, a function of the price you pay for it.