The majority of investments are in intangible assets, including research and development, customer acquisition costs and branding. But companies commonly expense these investments on the income statement as they incur them.
We are prone to exaggerate the consistency and coherence of what we see.
One of the reasons I can have a concentrated portfolio is because I understand what I own.
People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences
In economics, interest rates act as gravity behaves in the physical world.
It is value investing pure and simple with a concentrated portfolio, but the companies must have really good growth prospects.
We do not have, never have had, and never will have an opinion about where the stock market, interest rates, or business activity will be a year from now
If I have to bite at stuff that is out of my happy zone, I’m not a .334 hitter
In good years, if not in all years, they retain a part of their profits and put them back in the business.
As John Templeton would advise, you look for your bargains amongst individual stocks
You must be logged in to post a comment.