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

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.

All we try to do is buy a dollar for 40 cents.

Ancestors from all times have shared their essence with you. Accept the light and let go of the rest.

For what is philosophy but an art - one more attempt to give "significant form" to the chaos of experience?

Generalities are intellectually necessary evils.

When a government betrays the people by amassing too much power and becoming tyrannical, the people have no choice but to exercise their original right of self-defense — to fight the government.

You might be a rock and roll addict prancing on the stage. You might have drugs at your command, women in a cage.

This was his world, he said to himself, the sad, oppressive world that God had provided for him, and he was responsible to it.

Is not the decisive difference between comedy and tragedy that tragedy denies us another chance?

Anybody who does not value what you have does not deserve your relationship.

I didn't write much until I turned 40. Up until then I felt constrained by a sense of the discipline of New Testament studies and a sense of the ruling elite in theology and biblical studies.

In a social studies class I did a paper on the history of Attica, which ended up being a little book that I created.