Institutional constraints and market inefficiencies are the primary reasons that bargains develop. Investors prefer businesses and securities that are...

Herd mentality is leading to more and more destructive rampages down Wall Street. Investing passively by sticking to funds, indexes and other...

Berkshire Hathaway buys when the lemmings are heading the other way. Most people get interested in stocks when everyone else is. You can't buy what is...

It's fascinating how differently the same business can perform with two different leaders. We look first for intellectual honesty. It drives me crazy...

Many investors select asset classes, strategies, managers and funds based on recent strong performance. The feeling that "I'm missing out on great...

As long as the earnings power of his holdings remains satisfactory, the investor can give as little attention as he pleases to the vagaries of the...

Our best ideas tend to come from what I call "old research, new events." That's typically the good company you've studied carefully and would love to...

Betting against America has been the stupidest thing since 1776.

Rebalancing is the process of returning your portfolio to its target asset allocation as outlined in your investment plan. Rebalancing is difficult...

Out-of-favor stocks are the best road to capital gains.
The results of the hypothetical portfolios published in my column have deepened my...