Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.

The most common cause of low prices is pessimism - sometimes pervasive, sometimes specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces.

Growth and value investing are joined at the hip.

If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value.

Do not put all your eggs in one basket.

There seems to be some perverse human characteristic that likes to make easy things difficult.

As far as you are concerned, the stock market does not exist. Ignore it.