A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Tenth Edition)

The firm-foundation theory argues that each investment instrument, be it a common stock or a piece of real estate, has a firm anchor of something called intrinsic value, which can be determined by careful analysis of present conditions and future prospects.

one’s capacity for risk-bearing depends importantly upon one’s age and ability to earn income from noninvestment sources. It is also the case that the risk involved in most investments decreases with the length of time the investment can be held. For these reasons, optimal investment strategies must be age-related.

If you can keep your head when all about you are losing theirs… Yours is the Earth and everything that’s in it… —Rudyard Kipling, If—