Legendary investors’ approach to market plunges
Like rainy days, we simply have to prepare ourselves and put up with them. And like rainy days, if we are in the umbrella business, we can take advantage of them.
contrarian thinking
The right stuff and successful investing
A lot of people talk about patience, discipline, and courage, but curiosity is one of the reasons great investors find the things they do, and it is also consistent with being a contrarian
The intelligence of successful investors
The mistake many make is to think investing is only about numbers. We invest in businesses, not in financial statements.
Buying stocks in your happy zone
If I have to bite at stuff that is out of my happy zone, I’m not a .334 hitter
A time of maximum pessimism
So we search for those things that other people are selling and then if the problem or adverse outlook is temporary we buy them and hold them patiently for years until the public changes its mind.
The joy of contrarian investing
The moral courage to act ‘in opposition to the crowd’ when your judgement tells you are right
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