Growth And Value Investing Are Joined At

Successful Investing Takes Time, Discipline And Patience. No Matter How Great The Talent Or Effort, Some Things Just Take Time: You Can't Produce A Baby In One Month By Getting Nine Women Pregnant.

Someone Is Sitting In The Shade Today Because Someone Planted A Tree A Long Time Ago.

Outstanding Long-term Results Are Produced Primarily By Avoiding Dumb Decisions, Rather Than By Making Brilliant Ones.

In Business, I Look For Economic Castles Protected By Unbreachable 'moats'.

Asset-heavy Businesses Generally Earn Low Rates Of Return - Rates That Often Barely Provide Enough Capital To Fund The Inflationary Needs Of The Existing Business, With Nothing Left Over For Real Growth, For Distribution To Owners, Or For Acquisition Of New Businesses