The fact that people will be full of greed, fear or folly is predictable.The sequence is not predictable.

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

When people are 'stung' in false investment schemes there are three causes; greed of something for nothing; sheer inability to know their mind; or infantile trustfulness.

What the wise do in the beginning, fools do in the end.

Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price.

Long ago, Ben Graham taught me that "Price is what you pay; value is what you get." Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.