A Quote by Seth Klarman

I know of no long-time practitioner who regrets adhering to a value philosophy; few investors who embrace the fundamental principles ever abandon this investment approach for another
Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon. Few are willing and able to devote sufficient time and effort to become value investors, and only a fraction of those have the proper mind-set to succeed.
While some might mistakenly consider value investing a mechanical tool for identifying bargains, it is actually a comprehensive investment philosophy that emphasizes the need to perform in-depth fundamental analysis, pursue long-term investment results, limit risk, and resist crowd psychology.
One of the surprises to me was the willingness of many people in the conservative media to roll over, to abandon long-held conservative principles, and to embrace Donald Trump.
When one approach is not working to reach the desired goal, that's not a reason to abandon the goal. Instead, it is time to devise another approach.
Value investors look at cash flows. If a company can maintain present cash flows for 5 or 6 years, it’s a good investment. Investors then just hope that those cash flows - and thus the company’s value - don’t decrease faster than they anticipate.
We are keenly in sympathy with the representatives of Labour. We have too few of them in the House of Commons. The Liberal party, high and low, have discovered, if they ever forgot it, that the real road to success lies in adhering to the old principles of the party.
Value investing is simple to understand but difficult to implement. Value investors are not supersophisticated analytical wizards who create and apply intricate computer models to find attractive opportunities or assess underlying value. The hard part is discipline, patience, and judgment. Investors need discipline to avoid the many unattractive pitches that are thrown, patience to wait for the right pitch, and judgment to know when it is time to swing.
There is no question that an important service is provided to investors by investment companies, investment advisors, trust departments, etc. This service revolves around the attainment of adequate diversification, the preservation of a long-term outlook, the ease of handling investment decisions and mechanics, and most importantly, the avoidance of the patently inferior investment techniques which seem to entice some individuals.
Too often, investors are the target of fraudulent schemes disguised as investment opportunities. As you know, if the balance is tipped to the point where investors are not confident that there are appropriate protections, investors will lose confidence in our markets, and capital formation will ultimately be made more difficult and expensive.
Utah's economy stays strong by adhering to conservative fundamental principles: low and consistent tax rates, smaller and more efficient government, sensible regulation, and empowering the private sector to create jobs.
Below, we itemize some of the quite different lessons investors seem to have learned as of late 2009 - false lessons, we believe. To not only learn but also effectively implement investment lessons requires a disciplined, often contrary, and long-term-oriented investment approach. It requires a resolute focus on risk aversion rather than maximizing immediate returns, as well as an understanding of history, a sense of financial market cycles, and, at times, extraordinary patience.
Republicans should never abandon pro-growth conservative principles in an effort to embrace the ideas of Al Gore.
Index investing is an investment strategy that Walter Mitty would love. It takes very little investment knowledge, no skill, practically no time or effort-and outperforms about 80 percent of all investors.
Value investors will not invest in businesses that they cannot readily understand or ones they find excessively risky. Hence few value investors will own the shares of technology companies. Many also shun commercial banks, which they consider to have unanalyzable assets, as well as property and casualty insurance companies, which have both unanalyzable assets and liabilities.
I have presented principles of philosophy that are not, however, philosophical but strictly mathematical-that is, those on which the study of philosophy can be based. These principles are the laws and conditions of motions and of forces, which especially relate to philosophy.
Culture, what you believe, what you value, how you live matters. Now, as fundamental as these principles are, they may become topics of democratic debates from time to time, so it is today with the enduring institution of marriage. Marriage is a relationship between a man and a woman.
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