Sir John Templeton's method

Sir John Templeton had one of the best methods for keeping emotion out of the process. He used to do his calculations of intrinsic value when there wasn't a lot going on in the market. He'd then place a margin of safety on those intrinsic values and place buy orders with his broker at, say, 40% below the current market price.

- James Montier

Uncertainty of the future

An argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit?...face up to two unpleasant facts: The future is never clear [and] you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long term values.

- Warren Buffett

Buy troubled companies with ...

When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.

- Peter Lynch

Unfavorable industries?

It is natural to assume that industries which have fared worse than the average are "unfavorably situated" and therefore to be avoided. The converse would be assumed, of course, for those with superior records. But this conclusion may often prove quite erroneous. Abnormally good or abnormally bad conditions do not last forever. This is true not only of general business but of particular industries as well. Corrective forces are often set in motion which tend to restore profits where they have disappeared, or to reduce them where they are excessive in relation to capital.

- Benjamin Graham

Bear market after every christmas

Bear markets happen for a simple reason. The owners of the merchandise can't get their asking price. The shortage of buyers forces them to lower the fare, until a buyer can be coaxed into making a deal. It's a common occurrence in retail. Stores have a bear market after every Christmas rush.

- John Rothchild

Run at speed ...

You should run at a speed that would strengthen your muscles and if you run too fast it will affect your health.

- Dr Yaga Venugopal Reddy

Best protection against inflation

The best protection against inflation is your own earning power. If you are the best teacher, you will command earning power and get your share of the national economic pie, regardless of the value of the currency. The second best investment is in a good company.

- Warren Buffett