Pricing stocks

Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices. If you think something is worth a dollar, don’t pay 99 cents for it. Buy it at 60 cents so there is a margin of safety. Don’t drive up to a bridge that says capacity 10,000 pounds with a 9,900 pound truck and drive across it. Go down the road and find one that says 20,000 pounds.