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

I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline

The trick of successful investors is to sell when they want to, not when they have to.

We continue to adhere to a common-sense view of risk - how much we can lose and the probability of losing it. While this perspective may seem over simplisticor even hopelessly outdated, we believe it provides a vital clarity about the true risks in investing.

Value investors should completely exit a security by the time it reaches full value; owning overvalued securities is the realm of speculators.

Successful investors tend to be unemotional, allowing the greed and fear of others to play into their hands. By having confidence in their own analysis and judgement, they respond to market forces not with blind emotion but with calculated reason. Successful investors, for example, demonstrate caution in frothy markets and steadfast conviction in panicky ones. Indeed, the very way an investor views the market and it’s price fluctuations is a key factor in his or her ultimate investment success or failure.

It is crucial in a sound investment process to search a mile wide than a mile deep with they find something - also.. never stop digging for information.