Investors Should Remember That Excitement And Expenses

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

Most People Get Interested In Stocks When Everyone Else Is. The Time To Get Interested Is When No One Else Is. You Can't Buy What Is Popular And Do Well.

More Investment Sins Are Probably Committed By Otherwise Quite Intelligent People Because Of "tax Considerations" Than From Any Other Cause. One Of My Friends-a Noted West Coast Philosopher-maintains That A Majority Of Life's Errors Are Caused By Forgetting What One Is Really Trying To Do. This Is Certainly The Case When An Emotionally Supercharged Element Like Taxes Enters The Picture (i Have Another Friend-a Noted East Coast Philosopher Who Says It Isn't The Lack Of Representation He Minds-it's The Taxation).

The U.s. Treasury Has Got Borrowing Costs Like Nobody Else Has.

If You Understood A Business Perfectly And The Future Of The Business, You Need Very Little In The Way Of A Margin Of Safety.