Ben was really a contrarian but he didn't use those terms because he was really buying value.
We basically followed the idea of buying comapnies selling below working-capital - at two thirds of working-capital.
Try to look for weaknesses in your thinking.
Warren is a very good judge of people and he's a very good judge of businesses.
The market is a very emotional place that appeals to fear and greed.
Graham liked the idea of protection on the downside.