A Quote by Walter Schloss
Basically, we try to buy value expressed in the differential between its price and what we think its worth.
Related Quotes
In stating the principles which regulate exchangeable value and price, we should carefully distinguish between those variations which belong to the commodity itself, and those which are occasioned by a variation in the medium in which value is estimated, or price expressed.
To a value investor, investments come in three varieties: undervalued at one price, fairly valued at another price, and overvalued at still some higher price. The goal is to buy the first, avoid the second, and sell the third.
I buy stocks when they are battered. I am strict with my discipline. I always buy stocks with low price-earnings ratios, low price-to-book value ratios and higher-than-average yield. Academic studies have shown that a strategy of buying out-of-favor stocks with low P/E, price-to-book and price-to-cash flow ratios outperforms the market pretty consistently over long periods of time.
There's no such thing as a value company. Price is all that matters. At some price, an asset is a buy, at another it's a hold, and at another it's a sell.
The value of an item—in the mind of a consumer—is simply the difference between the anticipated price and the price on the tag.
The value of an item - in the mind of a consumer - is simply the difference between the anticipated price and the price on the tag.
I know the price of lettuce. You need to understand price and value. You buy the best lettuce you can at the best price you can.
Money is very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota? Now, you would expect people to have an answer. But people were kind of shocked by the question. They never thought about it before. So, the most we got was people said, "Well, if I can't buy this Toyota, if I buy this Toyota, I can't buy a Honda." What is this thing? What is this value of price? Very hard to think about it.
A bargain is in its very essence a hostile transaction do not all men try to abate the price of all they buy? I contend that a bargain even between brethren is a declaration of war.
Edge also implies what Ben Graham....called a margin of safety. You have a margin of safety when you buy an asset at a price that is substantially less than its value. As Graham noted, the margin of safety 'is available for absorbing the effect of miscalculations or worse than average luck.' ...Graham expands, "The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price."
The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.
Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.
Everything that has value has its price. Nothing worth having is ever handed to you gratis.
My dad used to tell me, 'Check the price, son.' Check the price, kids, check the price because there is a price to be paid for whatever you do in life, whether it is good or it is bad. Before you do something, ask yourself is it worth the price you have to pay?
See the investment world as an ocean and buy where you get the most value for your money. Right now the value is in non-callable bonds. Most bonds are callable so when they start going up in price, the debtor calls them away from you. But the non-callable bonds, especially those non-callable for 25-30 years, can go way up in price if interest rates go way down.
We discovered that peace at any price is no peace at all. We discovered that life at any price has no value whatever; that life is nothing without the privileges, the prides, the rights, the joys which make it worth living, and also worth giving. And we also discovered that there is something more hideous, more atrocious than war or than death; and that is to live in fear.
Related Authors
Irving Kahn Quotes
American
Investor
Ted Leonsis Quotes
American
Investor
Warren Hellman Quotes
American
Investor