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

The function of the margin of safety is, in essence, that of rendering unnecessary an accurate estimate of the future.

Knowledge is only one ingredient on arriving at a stock's proper price. The other ingredient, fully as important as information, is sound judgment.

Even defensive portfolios should be changed from time to time, especially if the securities purchased have an apparently excessive advance and can be replaced by issues much more reasonable priced.

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.

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.