A Newspaper That Reduces Its Coverage Of

There Are Three Important Principles To Graham's Approach. [the First Is To Look At Stocks As Fractional Shares Of A Business, Which] Gives You An Entirely Different View Than Most People Who Are In The Market. [the Second Principle Is The Margin-of-safety Concept, Which] Gives You The Competitive Advantage. [the Third Is Having A True Investor's Attitude Toward The Stock Market, Which] If You Have That Attitude, You Start Out Ahead Of 99 Percent Of All The People Who Are Operating In The Stock Market - It's An Enormous Advantage.

You Should Be Unconcerned About Short-term Price Action When You Own The Securities Directly, Just As You Were Unconcerned When You Owned Them Indirectly Through Bpl. I Think About Them As Businesses, Not "stocks", And If The Business Does All Right Over The Long Term, So Will The Stock.

Our Stay-put Behavior Reflects Our View That The Stock Market Serves As A Relocation Center At Which Money Is Moved From The Active To The Patient.

There's Nothing Inappropriate About Having Debt In America. It's What Helped Us Grow Over Time. And It's When Debt Gets Out Of Control That You Worry.

We've Used Derivatives For Many, Many Years. I Don't Think Derivatives Are Evil, Per Se, I Think They Are Dangerous.