We worry top-down, but we invest bottom-up

The near absence of bargains works as a reverse indicator for us. When we find there is little worth buying, there is probably much worth selling.

My experience is that short sellers do far better analysis than long buyers because they have to. The market is biased upward over time-as the saying goes, stocks are for the long run.

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

Most institutional investors feel compelled to swing at almost every pitch and forgo batting selectivity for frequency.

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

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