You need to balance arrogance and humilitywhen you buy anything, it's an arrogant act. You are saying the markets are gyrating and somebody wants to sell this to me and I know more than everybody else so I am going to stand here and buy it. I am going to pay an 1/8th more than the next guy wants to pay and buy it. That's arrogant. And you need the humility to say 'but I might be wrong.' And you have to do that on everything

Analysts recommendations may not produce good results. In part this is due to the pressure placed on these analysts to recommend frequently rather than wisely.

Investing today may well be harder than it has been at any time in our three decades of existence.

Value investing is at its core the marriage of a contrarian streak and a calculator.

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

If you can remember that stocks aren't pieces of paper that gyrate all the time --they are fractional interests in businesses -- it all makes sense.

Sometimes buying early on the way down looks like being wrong, but it isn't.