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“Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same. Thus the important and difficult part of sound investment, which hinges upon the investor's own temperament and attitude, is not much affected by the passing years.”

“America has invested her religion as well as her morality in sound income-paying securities. She has adopted the unassailable position of a nation blessed because it deserves to be blessed; and her sons, whatever other theologies they may affect or disregard, subscribe unreservedly to this national creed.”

“We believe that our truly urgent need is to make our nation secure, our economy strong and our dollar sound. For every American this matter of the sound dollar is crucial. Without a sound dollar, every American family would face a renewal of inflation, an ever-increasing cost of living, the withering away of savings and life insurance policies.”

“It is our argument that a sufficiently low price can turn a security of mediocre quality into a sound investment opportunity - provided that the buyer is informed and experienced and he practices adequate diversification. For, if the price is low enough to create a substantial margin of safety, the security thereby meets our criterion of investment.”