If the market were way over priced, I wouldn't own any stocks.

I find it helpful to buy near the low of the last few years.

We like to buy stocks which we feel are undervalued and then we have to have the guts to buy more when they go down.

You have to be a little aware of the emotions of the people who have invested with you.

Ben didn't want to lose money. He had had a rough time during the depression.

Be careful of leverage. It can go against you.

We do not spend a great deal of time talking to management.