1. Price is what you pay. Value is what you get.
Interpretation: Emphasizes the importance of distinguishing between price and value, with the core idea being 'buying quality assets at a reasonable price'.
2. "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes."
Interpretation: Long-term thinking, investment should be based on the long-term value of the company rather than short-term fluctuations.
3. "Be fearful when others are greedy and greedy when others are fearful."
Interpretation: A contrarian investment strategy, looking for opportunities in extreme market sentiment.