You don't have to be a genius to invest well

The three most important words in investing...Margin of Safety.

There are certain things that cannot be adequately explained to a virgin either by words or pictures.

Gold has two significant shortcomings, being neither of much use nor procreative.

The [stock] market,like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do.

I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.

Intrinsic value can be defined simply: It is the discounted value of the cash that can be taken out of a business during its remaining life.