You should wish your earnings to be reinvested if they can be expected to earn high returns
This approach has worked
A fancy spreadsheet will give precise numbers but can also give you a false sense of accuracy.
What is ‘investing’ if it is not the act of seeking value at least sufficient to justify the amount paid?
“If you can look into the seeds of time,
And say which grain will grow and which will not,
Speak then to me.”
The small picture is its specialist technical, engineering, construction and operational skill and economic performance
Sensible professionals wondered if they should take up hunting and fishing
In sports, in war and in the battle for investment survival it is helpful to distinguish between strategy and tactics.
I cannot understand why an investor of that sort elects to put money into a business that is his 20th favorite
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.