A Quote by Seth Klarman

A value strategy is of little use to the impatient investor since it usually takes time to pay off. — © Seth Klarman
A value strategy is of little use to the impatient investor since it usually takes time to pay off.
The strategy of buying what's in favor is a fool's errand, ensuring long-term underperformance. Only by standing against the prevailing winds - selectively, but resolutely - can an investor prosper over time. But for a while, a value investor typically underperforms.
You value the thing you are fighting for, but then you learn to value the time it takes to do it and the time you have off. Both of which are precious.
Ask yourself: Am I an investor, or am I a speculator? An investor is a person who owns business and holds it forever and enjoys the returns that U.S. businesses, and to some extent global businesses, have earned since the beginning of time. Speculation is betting on price. Speculation has no place in the portfolio or the kit of the typical investor.
The exact details of how you practice value investing will vary investor to investor, but the fundamental principle of scouring the world, looking for dollar bills that you can buy for 50 cents or at some big discount - that is universal to value investing.
The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst the right questions, he is likely to get the right or at least valuable answers.
We take the traditional value investor's process and just flip it around a little bit. The traditional value investor asks 'Is this cheap?' and then 'Why is it cheap?' We start by identifying a reason something might be mispriced, and then if we find a reason why something is likely mispriced, then we make a determination whether it's cheap.
It is crucial to have a strategy in place before problems hit, precisely because no one can accurately predict the future direction of the stock market or economy. Value investing, the strategy of buying stocks at an appreciable discount from the value of the underlying businesses, is one strategy that provides a road map to successfully navigate not only through good times but also through turmoil.
While it might seem that anyone can be a value investor, the essential characteristics of this type of investor-patience, discipline, and risk aversion-may well be genetically determined.
Famed value investor Guy Spier has managed to write what is both a gripping memoir and a fascinating study of what it takes to succeed in investing and life. A must read!
I don't use a Beatmap; I don't use any click track. Any time I count off, it's just in my heart. Sometimes I'll go off the feel of a crowd, like if they way they're bouncing is a little quicker than the song, I might kick up the tempo a little bit. I see where the crowd is at. It's nothing drastic, but all the tempos are from my internal clock.
The investor has the benefit of the stock market's daily and changing appraisal of his holdings, 'for whatever that appraisal may be worth', and, second, that the investor is able to increase or decrease his investment at the market's daily figure - 'if he chooses'. Thus the existence of a quoted market gives the investor certain options which he does not have if his security is unquoted. But it does not impose the current quotation on an investor who prefers to take his idea of value from some other source.
I think we can all use a little more patience. I get a little impatient sometimes and I wish I didn't. I really need to be more patient.
We want to get full value out of labour so that we may be able to pay it full value. It is use - not conservation - that interests us.
When you play No Limit Hold'em, the ideal strategy is to take minimal risk, do little bluffing, and hope that weaker players call you when you have a strong hand. But that's the perfect world. Sometimes you'll face opponents that play very conservatively and will rarely pay you off when you have the goods.
I was an arden Hayes man, but that was natural, for I was pretty young at the time, I have since convinced myself that the political opinioins of a nation are of next to no value, in any case, but that what little rag of value they posess is to be found among the old, rather than among the young.
Regardless of what happens in the markets, stick to your investment program. Changing your strategy at the wrong time can be the single most devastating mistake you can make as an investor.
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