Curiosity is the engine of civilisation

I bought stuff at 3.5 cents once and I thought it can’t go down to zero. It can.

There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic.

The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits over that period.

If it is cheap enough, we don't care what it is.

One of the dangers about net-net investing is that if you buy a net-net that begins to lose money your net-net goes down and your capacity to be able to make a profit becomes less secure. So the trick is not necessarily to predict what the earnings are going to be but to have a clear conviction that the company isn't going bust and that your margin of safety will remain intact over time.

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience.