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.

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

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.

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

I paraphrase Lord Rothschild: ‘The time to buy is when there's blood on the streets.'

A realistic definition of risk recognizes the potential loss of capital through inflation and taxes, and would include at least the following two factors: The probability that the investment you chose will preserve your capital over the time you intend to invest your funds. The probability the investments you select will outperform alternative investments for this period.

Experience teaches us that when "everyone" comes to the same conclusion, that conclusion is just about always wrong.