If You Have A Great Manager, You

Many Stock Options In The Corporate World Have Worked In Exactly That Fashion: They Have Gained In Value Simply Because Management Retained Earnings, Not Because It Did Well With The Capital In Its Hands.

If You Expect To Continue To Purchase Stocks Throughout Your Life, You Should Welcome Price Declines As A Way To Add Stocks More Cheaply To Your Portfolio.

“With A Wonderful Business, You Can Figure Out What Will Happen; You Can’t Figure Out When It Will Happen. You Don’t Want To Focus On When, You Want To Focus On What. If You’re Right About What, You Don’t Have To Worry About When.”

“I Insist On A Lot Of Time Being Spent, Almost Every Day, To Just Sit And Think. That Is Very Uncommon In American Business. I Read And Think. So I Do More Reading And Thinking, And Make Less Impulse Decisions Than Most People In Business. I Do It Because I Like This Kind Of Life.”

The Greater The Potential For Reward In The Value Portfolio, The Less Risk There Is.