If you are honest, hardworking, reasonably intelligent and have good common sense, you can do well in the investment field as long as you are not too greedy and don't get too emotional when things go against you.

Make sure you have the courage to stay true to your convictions and not let the market affect your emotions.

A lot of companies have lots of assets tied up in plant and equipment. Well, is it old plant, or is it new plant?

Earnings can change dramatically. Usually assets change slowly.

When you buy a depressed company it's not going to go up right after you buy it, believe me.

Graham liked the idea of protection on the downside.

Have a philosophy of investment and try to follow it.