An investor calculates what a stock is worth, based on the value of its businesses..

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

Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 yea….

Speculative stock movements are carried too far in both directions, frequently in the general market and at all times in at least some of the individ….

Both individual skill (art) and chance are important factors in determining success or failure..

Investing is most intelligent when it is most businesslike..

To be an investor you must be a believer in a better tomorrow..

The genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual qualities of character.