To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

All successful investment involves trying to get into something where it's worth more than you're paying. That's what successful investing is.

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock

Success in investing doesn't correlate with I.Q. Once you are above the level of 125; once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.

It can be very expensive to try to convince the markets you are right.

You approach stocks as if they were pieces of a business you want to buy at a discount.