Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.

Over the long run, the crowd is always wrong.

Having clients with a long-term orientation is crucial. Nothing else is as important to the success of an investment firm.

Ultimately, nothing should be more important to investors than the ability to sleep soundly at night.

While knowing how to value businesses is essential for investment success, the first and perhaps most important step in the investment process is knowing where to look for opportunities

You need humility to say 'I might be wrong.'

Limit risk with: Deep analysis Bargain purchase Sensitivity analysis.