Ben's emphasis was on protecting his expectation of profit with minimum risk.

Each year we buy stocks and they go up, we sell them and then we try to buy something cheaper.

You never really know a stock until you own it.

Try not to let your emotions affect your judgement.

Look at companies selling at new lows.

Earnings can change dramatically. Usually assets change slowly.

When I buy a stock, I have kind of an idea where I want to sell it.