What Graham's net-net strategy is — buy stocks trading below net current asset value

What the Treynor-Black model does — combines active stock picking with a passive market portfolio

The Treynor-Black model optimizes portfolio returns by blending active investments with a passive market index

What Buffett means by staying within your circle of competence

Buffett advises investing in areas where one has deep understanding and expertise

What Buffett means by 'Only when the tide goes out do you discover who's been swimming naked'

Exposes investors' lack of prudent risk management

What an iron condor profits from — the stock staying within a range

An iron condor profits from minimal stock price movement within the defined strike price range

What anchoring does in investing — the purchase price biases your sell decision

Anchoring bias causes investors to base sell decisions on initial purchase price rather than current market value

What Buffett means by a company's moat — sustainable competitive advantage

Buffett's "moat" refers to a company's sustainable competitive advantage protecting it from rivals