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While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster.

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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.

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The intelligent investor gets interested in big growth stocks not when they are at their most popular – but when something goes wrong.

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The intelligent investor is likely to need considerable will power to keep from following the crowd.

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Before you invest, you must ensure that you have realistically assessed your probability of being right and how you will react to the consequences of being wrong.

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The intelligent investor shouldn’t ignore Mr. Market entirely. Instead, you should do business with him- but only to the extent that it serves your interests.

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You must never delude yourself into thinking that you’re investing when you’re speculating.

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Successful investing professionals are disciplined and consistent and they think a great deal about what they do and how they do it.

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

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Losing some money is an inevitable part of investing, and there’s nothing you can do to prevent it.But to be an intelligent investor, you must take responsibility for ensuring that you never lose most or all of your money.

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