“The investor’s chief problem – and even his worst enemy – is likely to be himself.”

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.

The intelligent investor should recognize that market panics can create great prices for good companies and good prices for great companies.

Avoid second-quality issues in making up a portfolio unless they are demonstrable bargains.

Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal.

Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.

Basically, people are never happy enough because they want more money.

The machines greed knows no limits.

Make Money a CENTRAL priority. This has nothing to do with greed and consumption and everything to do with life force and power.

Desire is storm, greed is whirlpool, pride is precipice, attachment is avalanche, ego is volcano. Discard desire and you are liberated.

The end of knowledge is wisdom The end of culture is perfection The end of wisdom is freedom The end of education is character. And character consists of eagerness to renounce one’s selfish greed.

They say I’m greedy, but I still want more, cause my eyes want to journey.

Form no covetous desire, so that the demon of greediness may not deceive thee, and the treasure of the world may not be tasteless to thee.

Sufficient to say, greed is a deadly deed. You shall not covet your neighbor’s goods.