• Zmolek Rd, Ennis

    567 AC

  • Krahl Rd, Valley View

    172 AC

  • FM 922, Valley View

    204 AC

  • 918 Elm Grove Rd, Valley View

    184 AC

  • Think of buying stock as buying financial interests in whole businesses.

  • Construct a focused low-turnover portfolio

  • Invest on only what you can understand and analyze

  • Demand a margin of safety between the purchase price and the company’s long-term value

An Investment Operation is one which, upon thorough analysis, promises safety of principal and a satisfactory return

  • Thorough analysis: the careful study of available facts with the attempt to draw conclusions based on established principles and sound logic.

  • Safety is not absolute; unusual or improbable occurrences can put even a safe bond into default.

  • Look for something safe from loss under reasonable conditions.