"In the short run, the market is a voting machine but in the long run it is a weighing machine."
"The chief losses to investors come from the purchase of low-quality securities at times of favourable business conditions."
"I quickly convinced myself that the true key to happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions."
"While enthusiasm may be necessary for great accomplishments elsewhere, on wall street it almost invariably leads to disaster."
"Obvious prospects for physical growth in a business do not translate into obvious profits for investors."
" An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."
"The intelligent investor is likely to need considerable will power to keep from following the crowd."
"You are neither right nor wrong because people agree with you."