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An investor should act as though he had a lifetime decision card with just twenty punches on it.

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The stock market is designed to transfer money from the active to the patient.

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Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.

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All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.

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Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.

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Time is the friend of the wonderful company, the enemy of the mediocre.

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In the business world, the rearview mirror is always clearer than the windshield.

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For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments.

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Don’t pass up something that’s attractive today because you think you will find something better tomorrow.

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When forced to choose, I will not trade even a night’s sleep for the chance of extra profits.

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