You never really know a stock until you own it.

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

Book values have some good and some bad features.

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

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

Ben was a great believer in buying a diversified group of securities, so that he limited his risk.

Fear and greed tend to affect one's judgement.