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

We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.

Every corporate security may be best viewed, in the first instance, as an ownership interest in, or a claim against, a specific business enterprise.

No statement is more true and better applicable to Wall Street than the famous warning of Santayana: "Those who do not remember the past are condemned to repeat it".

By developing your discipline and courage, you can refuse to let other people's mood swings govern your financial destiny. In the end, how your investments behave is much less important than how you behave.

A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.

The investor's chief problem - and even his worst enemy - is likely to be himself.