Expected future returns
Today’s investor cannot tell what percentage gain in earnings, dividends and prices he may expect in the next ten years
Part 4: Principles of Operation
Understanding Ben Graham’s Principles of Operation
The various Principles of Operation that follow are not things I have dreamed up. They are frequently quotes or exact formulations or wording from Benjamin Graham, Warren Buffett, John Templeton, Philip Fisher, Peter Lynch, John Neff, Maynard Keynes and others.
The cornerstone of investment success
Is buying with a margin of safety really the closet practice of market timing?
The under-performance of value stocks explained
There is a lot of talk currently about the underperformance of value stocks compared with growth stocks over the last fifteen years. In fact, value investing has performed well against all other styles. This seeming contradiction comes from the fact that value investing and investing in value stocks are not the same thing.