Over the long run, the crowd is always wrong.

Do not suffer interim losses, relish and appreciate them

Once you adopt a value-investment strategy, any other investment behavior starts to seem like gambling.

We are big fans of fear, and in investing it is clearly better to be scared than sorry.

Here’s how to know if you have the makeup to be an investor. How would you handle the following situation? Let’s say you own a Procter & Gamble in your portfolio and the stock price goes down by half. Do you like it better? If it falls in half, do you reinvest dividends? Do you take cash out of savings to buy more? If you have the confidence to do that, then you’re an investor. If you don’t, you’re not an investor, you’re a speculator, and you shouldn’t be in the stock market in the first place.

I don't have a Bloomberg on my desk. I don't care.

Always look for forced urgent selling.