If past history was all there was to the game, the richest people would be librarians.

A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.

Bull markets and Bear markets can obscure mathematical laws, they cannot repeal them.

You should look at stocks as small pieces of business.

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

An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.

How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.