Risk comes from not knowing what you're doing.

Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.

Someone's sitting in the shade today because someone planted a tree a long time ago.

Price is what you pay. Value is what you get.

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

You have to understand the business before you understand the stock.

-- Mario Gabelli

The stock market is there to serve you, not to instruct you.

-- Joel Greenblatt

The stock market is the only business I know that when things go on sale, the customers run out of the store.

-- Leon G. Cooperman

Concentration is the key. If you believe in something, you should bet big on it.

-- Bruce Berkowitz

The bulls might be right that the company's accounting is fine, but they're asking us to take it on faith. We prefer to verify.

-- David Einhorn

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 — even though others may hesitate or differ.

-- Benjamin Graham