Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.

An investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace.

Buy companies with strong histories of profitability and with a dominant business franchise.

To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.

That's the reality of what they're going to sell them to the Treasury for.

You should invest in a business that even a fool can run, because someday a fool will.

Taking jobs to build up your resume is the same as saving up sex for old age.