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

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.

To tell the truth is very difficult, and young people are rarely capable of it.

Peace is always beautiful.

Faith is not belief. Belief is passive. Faith is active.

The most important thing you wear is your personality.

The girl traced the outline of her lover's shadow so she would always have a record of how he looked.

The love of all-inclusiveness is as dangerous in philosophy as in art.

I believe the brain is like a muscle - like any other it can be improved.

Thank you for caring for my brother." He took his sunglasses off. And looked at her with total adoration.

Where there is little thinking, there is big shaping of the people!

England is a nation of shopkeepers.