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.
maximum pessimism
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.
Buying tactics for common stocks
We give up on trying to attain perfection or ascertain when the bottom has been reached
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