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

Confusing speculation with investment is always a mistake.

Never buy a stock because it has gone up or sell one because it has gone down.

In the short run, the market is a voting machine, but in the long run it is a weighing machine.

The investor who permits himself to be stampeded or unduly worried by unjustified market declines in his holdings is perversely transforming his basic advantage into a basic disadvantage.

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

To have a true investment, there must be a true margin of safety. And a true margin of safety is one that can be demonstrated by figures, by persuasive reasoning, and by reference to a body of actual experience.