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

A story that was passed down from Ben Graham illustrates the lemminglike behavior of the crowd: 'Let me tell you the story of the oil prospector who met St. Pe…

'For some reason, people take their cues from price action rather than from values. What doesn't work is when you start doing things that you don't understand …

'Can you really explain to a fish what it's like to walk on land? One day on land is worth a thousand years of talking about it, and one day running a business…