<b>Core principles
A. A stock represents an ownership interest in an actual business with an underlying value that does not depend on its share price.

B. The market is a pendulum that swings between optimism (making stock too expensive) and pessimism (too cheap).

C. The future value of every investment is a function of its present price. The higher the price you pay, the lower your return.

D. No matter how careful you are, you need a margin of safety--never overpaying after considering all risks.

E. The secret of financial success is inside yourself.
1. be a critical thinker
2. invest with patient confidence

"Rule Number one: Never lose money.Rule Number two: Don’t forget Rule Number one."
"A public-opinion poll is no substitute for thinking."
"Risk presents itself when you don’t know what you're doing."
"Someone's sitting in the shade today because someone planted a tree a long time ago."