The enemy of investment success is activity
Individuals who cannot master their emotions are ill-suited to profit from the investment process
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful
Before enlightenment, chop wood, carry water. After enlightenment, chop wood, carry water.
Price is what you pay. Value is what you get
Acknowledging what you don’t know is the dawning of wisdom
Operations for profit should be based not on optimism but on arithmetic.
Men who can both be right and sit tight are uncommon
Determine value apart from price; progress apart from activity; wealth apart from size
Mimicking the herd invites regression to the mean