Some kinds of stocks are easier to analyse than others.
Have the courage of your convictions once you have made a decision.
We do not spend a great deal of time talking to management.
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.
Ben's emphasis was on protecting his expectation of profit with minimum risk.
One of the tricks of this business is, keep your losses down.