'The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.'

'One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as `marketability' and `liquidity,' sing the praises of companie…

'The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.'

'Working with people who cause your stomach to churn seems much like marrying for money - probably a bad idea under any circumstances, but absolute madness if …