We always look at the margin of safety in the balance sheet and then worry about the business..

I suspect that my thinking is an eclectic mix, not pure net-net because I couldn’t do it anyway so you have to have a new something to hang your hat ….

To put money into anything, anywhere, provided that the downside is measurable and acceptable and the chances of a good profit appear to be better th….

The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing is one of the most ….

I bought stuff at 3.5 cents once and I thought it can’t go down to zero. It can..

There is always something to do. You just need to look harder, be creative and a little flexible..

The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time..

Try to pick a fund manager who has a well-defined strategy, has been through these things before, and go invest and stay with him..

Curiosity is the engine of civilisation.

The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this c….

Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt position if r….

I think that intelligent forecasting (company revenues, earnings, etc.) should not seek to predict what will in fact happen in the future. Its purpos….

One of the dangers about net-net investing is that if you buy a net-net that begins to lose money your net-net goes down and your capacity to be able….

Sooner or later, the market will do what it has to do to prove the majority wrong..

Why will someone sell you a dollar for 50 cents? Because in the short run, people are irrational on both the optimistic and pessimistic side..

The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits over that….

Protect the downside. Worry about the margin of safety..

They really can’t afford to be contrarians. A major investment house can’t afford to do research for five customers who won’t generate a lot of commi….

The price must be less than one half of the former high and preferably at or near its all time low..

We do liquidation analysis and liquidation analysis only..

All we try to do is buy a dollar for 40 cents..