The Fact That People Will

Investing Is The Greatest Business In The World Because You Never Have To Swing. You Stand At The Plate; The Pitcher Throws You General Motors At 47! U.s. Steel At 39! And Nobody Calls A Strike On You. There's No Penalty Except Opportunity. All Day You Wait For The Pitch You Like; Then, When The Fielders Are Asleep, You Step Up And Hit It.

Our Marketable Equities Tell Us By Their Operating Results - Not By Their Daily, Or Even Yearly, Price Quotations - Whether Our Investments Are Successful. The Market May Ignore Business Success For A While, But Eventually Will Confirm It.

Chains Of Habit Are Too Light To Be Felt Until They Are Too Heavy To Be Broken.

You Know ... You Keep Doing The Same Things And You Keep Getting The Same Result Over And Over Again.

We Simply Attempt To Be Fearful When Others Are Greedy And To Be Greedy Only When Others Are Fearful.