We invest in undervalued companies that exhibit strong fundamentals, above-market dividend yields and historic earnings growth, which our analysis indicates will persist. Our strategy is to own strong, fundamentally sound companies and to avoid speculative stocks or potential bankruptcies.

History constantly reminds us that in an uncertain world there is no visibility of prospects. Future earnings cannot be predicted with accuracy.

Nobody beats the market, they say. Except for those of those of us who do.

A good starting point [in the measurement of investment risk] is the preservation and enhancement of your purchasing power in real terms.

Patience is a crucial but rare investment commodity.

Psychology is probably the most important factor in the market - and one that is least understood.

One of the big problems with growth investing is that we can't estimate earnings very well. I really want to buy growth at value prices. I always look at trailing earnings when I judge stocks.