The joy of higher return with no more risk
If we calculate the value of a common stock to be only slightly higher than its price, we’re not interested in buying
margin of safety
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.