Quotes

We just try to buy cheap stocks. That's really all. We try to buy things that are out of favor - stocks that others don't want.

Lots of times when you buy a cheap stock for one reason, that reason doesn't pan out but another reason does because it's cheap.

One of the tricks of this business is, keep your losses down and then, if you have a few good breaks, the compounding works well for you.

I don't think investing is a science. I rather look at it as part art and part science with some boundaries.

We would rather underperform in a huge bull market than get clobbered in a really bad bear market.

Short sellers are the market’s police officers. If short selling were to go away, the market would levitate even more than it currently does.

Price is the essential determinant in every investment equation. At some price, every company is a buy; at some price, every company is a hold; and at a still higher price, every company is a sell. We do not really recognize the concept of a value company.

When stocks are rising for no better reason than that they have risen, the greater fool is at work.

Stocks are not lottery tickets. There's a company behind every stock. If the company does well, the stock does well. It's not that complicated.

If you can't explain to a 10-year-old in two minutes or less why you own a stock, you shouldn't own it.

When you have a family, and a house, and the market is going down, and you're on margin, it's probably too much pressure for you to do the right research and the right kind of thinking to make good decisions.

My system for over 30 years has been this: When stocks are attractive, you buy them.