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The most important thing to do if you find yourself in a hole is to stop digging.
Risk comes from not knowing what you are doing.
In the business world, the rearview mirror is always clearer than the windshield.
The three most important words in investing are margin of safety.
It is for better to buy a wonderful company at fair price, than a fair company at wonderful price.
If a business does well, the stock eventually follows.
Only buy something that you would be perfectly happy to hold if the market shut down for 10 years.
The stock market is designed to transfer money from the active to the patient.
If you are not thinking about owning a stock for 10 years, do not even think about owning it for 10 minutes.
Our favorite holding period is forever.
An investor should act as though he had a lifetime decision card with just twenty punches on it.
Do not take yearly results too seriously. Instead, focus on four or five year averages.
It is better to have a partial interest in the hope diamond than to own all of a rhinestone.
