The Intelligent Investor

The intelligent investor is a realist who sells to optimists and buys from pessimists.

In the short run, the market is a voting machine but in the long run, it is a weighing machine.

The investor's chief problem — and even his worst enemy — is likely to be himself.

To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.

The stock market is filled with individuals who know the price of everything, but the value of nothing.

Those who do not remember the past are condemned to repeat it.

Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it.

The best way to measure your investing success is not by whether you're beating the market but by whether you've put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.