First, Many In Wall Street - A

My Job Is Essentially Just Corralling More And More And More Facts And Information, And Occasionally Seeing Whether That Leads To Some Action.

The Most Common Cause Of Low Prices Is Pessimism - Some Times Pervasive, Some Times Specific To A Company Or Industry. We Want To Do Business In Such An Environment, Not Because We Like Pessimism But Because We Like The Prices It Produces. It's Optimism That Is The Enemy Of The Rational Buyer.

“Honesty Is A Very Expensive Gift. Don't Expect It From Cheap People.”

Unless Your Answers Are Clearly Better, Copy The Answers Of Your Betters.

“Investment Philosophy Is The Clear Understanding That By Owning Shares Of Stocks, One Owns Businesses, Not Pieces Of Paper.”