Price is what you pay. Value is what you get.

Be fearful when others are greedy, and greedy when others are fearful.

The stock market transfers money from the impatient to the patient.

Risk comes from not knowing what you’re doing.

Time is the friend of the wonderful business and the enemy of the mediocre.

In the short run, the market is a voting machine; in the long run, a weighing machine.

Without a margin of safety, there is no investment: only speculation.

The market is there to serve you, not to guide you.

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

Don’t confuse price with value.

The big money is not in the buying and the selling, but in the waiting.

You don’t need many good decisions. You need to avoid the big bad ones.

Knowing what you don’t know is more useful than being brilliant.

Patience can look like inactivity, but it’s often the highest form of intelligence.

Don’t try to be brilliant every day. Try not to be an idiot every day.

Invest in what you know, but do your homework.

The real money isn’t made in buying or selling. It’s made in the waiting.

If you can’t explain why you own a stock, you probably shouldn’t own it.

The stock market rewards patience more than intelligence.

The best opportunities often look boring at first.

It’s not whether you’re right or wrong; it’s how much you make when you’re right and how much you lose when you’re wrong.

I’m rich because I know when I’m wrong.

Markets are not rational: they are human.

Survival is more important than being right.

A bubble is born from a truth taken too far.

Don’t invest in the present; invest in the future the market hasn’t priced in yet.

When the facts change, change your mind.

Discipline weighs more than IQ.

If you have an extraordinary opportunity, don’t diversify out of fear.

The market punishes those who confuse conviction with ego.

Data has no ego.

Look for patterns, not stories.

The edge isn’t in having better opinions, but in measuring better.

Emotion is noise; the model tries to find signal.

You don’t need to understand every market move; you need a system that survives them.