By refusing to pay too much for an investment, you minimize the chances that your wealth will ever disappear or suddenly be destroyed.

For 99 issues out of 100 we could say that at some price they are cheap enough to buy and at some price they would be so dear that they would be sold.

The intelligent investor is a realist who sells to optimists and buys from pessimists.

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

An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.

As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.

Investing is most intelligent when it is most businesslike.