“Opportunities Come Infrequently. When It Rains

The Stockmarket Is A Semi-psychotic Creature Given To Extremes Of Elation And Despair.

... Not Doing What We Love In The Name Of Greed Is Very Poor Management Of Our Lives.

Calculate "owner Earnings" To Get A True Reflection Of Value.

It Is Obvious That The Performance Of A Stock Last Year Or Last Month Is No Reason, Per Se, To Either Own It Or To Not Own It Now. It Is Obvious That An Inability To "get Even" In A Security That Has Declined Is Of No Importance. It Is Obvious That The Inner Warm Glow That Results From Having Held A Winner Last Year Is Of No Importance In Making A Decision As To Whether It Belongs In An Optimum Portfolio This Year.

Investing Is Simple, But Not Easy.