http://feigan.blogspot.hk/2012/12/blog-post.html Warren E. Buffet: To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. This book ( The Intelligent Investor) precisely and clearly prescribes the proper framework. You must supply the emotional discipline.
If you follow the behavioral and business principles that Graham advocates--and if you pay special attention to the invaluable advice in Chapters 8 and 20--you will not get a poor result from your investments.
Whether you achieve outstanding results will depend on the effort and intellect you apply to your investments, as well as on the amplitudes of stock -market folly that prevail during your investing career.