“The intelligent investor is a realist who sells to optimists and buys from pessimists.”

As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or values well in excess of the price paid.

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

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

We have not known a single person who has consistently or lastingly make money by thus “following the market”. We do not hesitate to declare this approach is as fallacious as it is popular.

An intelligent investor gets satisfaction from the thought that his operations are exactly opposite to those of the crowd.

It should be remembered that a decline of 50% fully offsets a preceding advance of 100%.

If fees consume more than 1% of your assets annually, you should probably shop for another adviser.

Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.

If General Motors is worth $60 a share to an investor it must be because the full common-stock ownership of this gigantic enterprise as a whole is worth 43 million (shares) times $60, or no less than $2,600 million.

A defensive investor can always prosper by looking patiently and calmly through the wreckage of a bear market.

In the short run, the market is a voting machine, but in the long run it is a weighing machine.

Whether we like it or not, government intervention in the face of surplus is here to stay.

Stock speculation is largely a matter of A trying to decide what B, C and D are likely to think-with B, C and D trying to do the same.

The modern world is not geared properly to the storage of goods.

I disapprove of matrimony as a matter of principle…. Why should any independent, intelligent female choose to subject herself to the whims and tyrannies of a husband? I assure you, I have yet to meet a man as sensible as myself! (Amelia Peabody)

We will stand by our friends and administer a stinging rebuke to men or parties who are either indifferent, negligent, or hostile, and, wherever opportunity affords, to secure the election of intelligent, honest, earnest trade unionists, with clear, unblemished, paid-up union cards in their possession.

James Russell offers a timely and compelling blueprint for a realistic transformation of America’s energy consumption by refusing to fall victim to conventional thinking.

Mothers were much too sharp. They were like dogs. Buster always sensed when anything was out of the ordinary, and so did mothers.

We are led by the least among us – the least intelligent, the least noble, the least visionary. We are led by the least among us and we do not fight back against the dehumanizing values that are handed down as control icons.

The greater part of the population is not very intelligent, dreads responsibility, and desires nothing better than to be told what to do. Provided the rulers do not interfere with its material comforts and its cherished beliefs, it is perfectly happy to let itself be ruled.

I’m convinced that promoting sport is an intelligent way of educating our children.

People’s lives really do turn out differently. And it certainly can’t be explained by how intelligent you remember them being when they were sitting next to you in organic chemistry class.