Irving Kahn quotes:

Investors must remember that their first job is to preserve their capital. After they've dealt with that, they can approach the second job, seeking a return on that capital.

The Depression taught me what frugality means and the importance of not losing money.

This may surprise you, but there were a large number of valuable buys during the Depression.

Investors have no reason to feel bearish. True value investors are glad the markets are down.

Real investors should never feel bearish because the time to buy value is when markets go down!

I stopped wasting time on what [other] people claimed a stock was worth and started looking at the numbers.

Don't depend on recent or current figures to forecast future prices; remember that many others knew them before you did

It is very important to have a widespread curiosity about life.

You must have the discipline and temperament to resist your impulses. Human beings have precisely the wrong instincts when it comes to the markets. If you recognise this, you can resist the urge to buy into a rally and sell into a decline. It's also helpful to remember the power of compounding. You don't need to stretch for returns to grow your capital over the course of your life.

I'm at the stage in life where I get a lot of pleasure out of finding a cheap stock,