“I make no attempt to forecast the general market — my efforts are devoted to finding undervalued securities.”

—  Warren Buffett

2 November 1959
Letters to Shareholders (1957 - 2012)
Context: I make no attempt to forecast the general market — my efforts are devoted to finding undervalued securities. However, I do believe that widespread public belief in the Inevitability of profits from investments in stocks will lead to eventual trouble. Should this occur, prices, but not intrinsic values in my opinion, of even undervalued securities can be expected to be substantially affected.

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American business magnate, investor, and philanthropist 1930

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