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.

Our favorite holding period is forever.

Value investing is at its core the marriage of a contrarian streak and a calculator.

-- Seth Klarman

It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their true value is recognized.

-- John Neff

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

I always look for a company where the stock price is below what I believe the value of the enterprise to be.

-- Leon G. Cooperman

Buying good companies at bargain prices is the secret to making a lot of money.

-- Joel Greenblatt

We buy cheap stocks. That's all we do.

-- Walter Schloss