“The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices.”

The thing that I have been emphasizing in my own work for the last few years has been the group approach. To try to buy groups of stocks that meet some simple criterion for being undervalued-regardless of the industry and with very little attention to the individual company.

In the old legend the wise men finally boiled down the history of mortal affairs into a single phrase: ‘This too will pass.’

Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster

Losing some money is an inevitable part of investing, and there’s nothing you can do to prevent it. But to be an intelligent investor, you must take responsibility for ensuring that you never lose most or all of your money.

THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is mainly responsible for the ensuing crash and depression.

Experience teaches that the time to buy stocks is when their price is unduly depressed by temporary adversity. In other words, they should be bought on a bargain basis or not at all.

It’s nonsensical to derive a price/earnings ratio by dividing the known current price by unknown future earnings.

The qualitative factors upon which most stress is laid are the nature of the business and the character of the management. These elements are exceedingly important, but they are also exceedingly difficult to deal with intelligently.

The value of any investment is, and always must be, a function of the price you pay for it.

Stocks can be dynamite.

I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.

Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.

The intelligent investor gets interested in big growth stocks not when they are at their most popular – but when something goes wrong.

The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.

Every corporate security may be best viewed, in the first instance, as an ownership interest in, or a claim against, a specific business enterprise.

Rhythm and timing are the two things which we all must have, yet no one knows how to teach either.

An artist or writer hasn’t any monopoly …. If the public response to his artistry is lacking, he’d do well to spend more time analyzing what’s the matter with his work, and less time figuring what’s the matter with the public.

Comedy is tragedy plus timing.

If the request is wrong, God says, No. If the timing is wrong, God says, Slow. If you are wrong, God says, Grow. But if the request is right, the timing is right and you are right, God says, Go!

Only liars manage to always be out during bad times and in during good times.

You can create something that is pure genius, but you have to get your timing right.

Trust in God’s timing. It’s better to have to wait a while and have things fall into place then to rush into something and have things fall apart.

Not only the rainbows but the storms too appear in your sky in the divine timing.