Remember that a share of stock represents a part of a business and is not just a piece of paper.

You have to have confidence in what you're doing.

Be careful of leverage. It can go against you.

Look at companies selling at new lows.

I'm a passive investor. There are people who are very aggressive; they try to buy companies.

My first job at Graham-Newman was to prepare the annual report for that 10th year.

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.