Diversification is an established tenet of conservative investment.
Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap.
As in roulette, same is true of the stock trader, who will find that the expense of trading weights the dice heavily against him.
Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.
The intelligent investor gets interested in big growth stocks not when they are at their most popular - but when something goes wrong.
The intelligent investor shouldn't ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.
A great company is not a great investment if you pay too much for the stock.
The intelligent investor is a realist who sells to optimists and buys from pessimists.
We define a bargain issue as one which, on the basis of facts established by analysis, appears to be worth considerably more that it is selling for.
Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.