Basically, we try to buy value expressed in the differential between its price and what we think its worth.
We get a feeling, if we can, about what we think the company is worth.
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.
Ben didn't want to lose money. He had had a rough time during the depression.
Try not to let your emotions affect your judgement.
You have to invest the way that's comfortable for you.