There will be losing years; but if the art of making money is not to lose it, then there should not be substantial losses.

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience.

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.

When a stock doubles, sell half - then what you have is a free position. Then it becomes more of an art form. When you sell depends on individual circumstances.

There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic.

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

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

The share price must be less than book value. Preferably it will be less than net working capital less long term debt.

Protect the downside. Worry about the margin of safety.

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

If it is cheap enough, we don't care what it is.

The man who passes the sentence should swing the sword.

I can fight with a real problem. But I cannot solve the ignorance. I cannot solve the illusion of your mind.

The very last thing I needed was fire burning through my palms.

The fact of knowing how to read is nothing the whole point is knowing what to read.

Of course, Americans have no monopoly of patriotic enthusiasm and good faith.

No matter how you travel, how 'successful' your tour, or foreshortened, you always learn something and learn to change your thoughts.

GDP tells you nothing about sustainability

Astrology is framed by the devil, to the end people may be scared from entering into the state of matrimony, and from every divine and human office and calling.

It was easier to deal with poverty and death in India that the lack of spirituality in America.

Zen is consciousness unstructured by particular form or particular system, a trans-cultural, trans-religious, transformed consciousness.