Just to add to my previous posts.

I had an opportunity to meet Mr. Buffett. He mentioned that he learned a lot from Ben Graham. Ben Graham looked for margin of safety. Buffett is doing the same thing. He is not necessarily looking for the cheapest stocks but he is looking for something with a margin of safety.

Here is something for newcomers that want to learn.

http://www.sajha.com/sajha/html/openthread.cfm?threadid=40020&archive=1#357099