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.

If you have good stocks and you really know them, you'll make money if you're patient over three years or more.

Investors repeatedly jump ship on a good strategy just because it hasn't worked so well lately, and, almost invariably, abandon it at precisely the wrong time.

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

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.