The cost of performing well in bad times can be relative underperformance in good times.

Loss avoidance must be the cornerstone of your investment philosophy.

There is no amount of bad news that the markets cannot see past.

Great investments don't just knock on the door and say "buy me".

A value strategy is of little use to the impatient investor since it usually takes time to pay off.

Warren Buffett is right when he says you should invest as if the market is going to be closed for the next five years. The fundamental principles of value investing, if they make sense to you, can allow you to survive and prosper when everyone else is rudderless. We have a proven map with which to navigate. It sounds kind of crazy, but in times of turmoil in the market. I’ve felt a sort of serenity in knowing that if I’ve checked and rechecked my work, one plus one still equals two regardless of where a stock trades right after I buy it.

Macro worries are like sports talk radio. Everyone has a good opinion which probably means that none of them are good.