My thoughts on second edition of The Four Pillars of Investing by William Bernstein

We think the very term ‘value investing’ is redundant. What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid?
We think the very term ‘value investing’ is redundant. What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid?
Worth reading because I have beaten the market for 1,3 and 50 years
Robust decision-making embraces many plausible futures, then helps analysts and decision makers identify near-term actions that are robust across a very wide range of futures
What a value investor’s concentrated portfolio looks like.
If the job has been correctly done when a common stock is purchased, the time to sell it is – almost never
Buffett analyzed companies more subjectively than Graham, and he found intrinsic value in companies, such as See’s Candies, that Graham would not have touched.
I’ve included a short list of some favorite earlier posts
An investment is a favourable bet. Gambling is an unfavourable bet.
The intelligent investor should be interested in the possibilities of profiting from these pendulum swings. There are two possible ways by which he may try to do this: the way of timing and the way of pricing.
Too many investors focus on “outlook” and “trend.” Therefore, more profit is made by focusing on value
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