Strategic thinking, plans and a punch in the mouth
And here’s the difference between the bursting of true stock market bubbles and other stock market routs. When the Dot Com bubble burst it took many many, years for the fallen to recover.
And here’s the difference between the bursting of true stock market bubbles and other stock market routs. When the Dot Com bubble burst it took many many, years for the fallen to recover.
Buffett is right for an actively managed portfolio and Greenblatt is right for a passive portfolio
Now we are looking for good companies, not just cheap companies.
A high ratio of price to book value, a high price-earnings ratio, and a low dividend yield – are in no way inconsistent with a ‘value’ purchase.
Now, real games are not like that at all. Real life is not like that. Real life consists of bluffing, of little tactics of deception, of asking yourself what is the other man going to think I mean to do. And that is what games are about in my theory.
And if a person sets out to make profits from security purchases and sales, he is embarking on a business venture of his own, which must be run in accordance with accepted business principles if it is to have a chance of success.
The stock market and individual stocks still seem capable of swinging from euphoria to fear, from fear to euphoria, from bull to bear and from bear to bull, as they have over stock market history.
A careful selection of a few investments (or a few types of investment) having regard to their cheapness in relation to their probable actual and potential intrinsic value over a period of years ahead and in relation to alternative investments at the time.
Distill the secrets of sound investment into three words
There are three ways to go at it with today’s post
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