Don't be afraid to be a loner but be sure that you are correct in your judgement.

You never get the high and you never get the low.

Basically, we try to buy value expressed in the differential between its price and what we think its worth.

I tried to follow Ben Graham's ideas.

We may buy a little bit of a stock, to get our feet wet and get a feeling for it.

Don't buy on tips or for a quick move.

Book values have some good and some bad features.