Experience teaches that the time to buy stocks is when their price is unduly depressed by temporary adversity. In other words, they should be bought on a bargain basis or not at all.

Buy when most people, including experts, are pessimistic, and sell when they are actively optimistic.

At heart, "uncertainty" and "investing" are synonyms.

In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or values well in excess of the price paid.

The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.

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.

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.