Investing Is An Activity Of Forecasting The

If Farming Were To Be Organised Like The Stock Market, A Farmer Would Sell His Farm In The Morning When It Was Raining, Only To Buy It Back In The Afternoon When The Sun Came Out.

It Would Be Foolish, In Forming Our Expectations, To Attach Great Weight To Matters Which Are Very Uncertain.

It Would Not Be Foolish To Contemplate The Possibility Of A Far Greater Progress Still.

In This Autumn Of 1919, In Which I Write, We Are At The Dead Season Of Our Fortunes.

It Is The Long-term Investor...who Will In Practice Come In For The Most Criticism... For It Is The Essence Of His Behavior That He Should Be Eccentric, Unconventional, And Rash In The Eyes Of Average Opinion