‘Valuation is a range not a number.’

‘Seek Prices below Intrinsic Value.’

‘Don't invest without a Margin Of Safety.’

‘Opportunities arise when prices don't reflect Private Market Value.’

‘A longer time horizon can give you an edge.’

‘Stocks are ownerships interests, not pieces of paper.’

‘The Investment Masters seek quality in their companies.’

‘A business needs a competitive advantage.’

‘Search out compounding machines.’

‘Management can break a company.’