A Quote by Seth Klarman

I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline — © Seth Klarman
I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline
Some people have argued that listening to a work of literature does not really promote literacy in the same way that reading does. Having tried this for several months, however, I can report from the trenches that, for me, immersive listening is as intellectually challenging, stimulating, and rewarding as immersive reading.
[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value -- in the hope that it can soon be sold for a still-higher price -- should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).
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.
Not everything needs changing. Some things need protecting. And that can be just as important, challenging and rewarding as changing the world.
My belief is that if you grapple with the big changes until you really get them and if you develop an internal compass to steer your marketing and communications, you will be working in a discipline that is more exciting, more intellectually rich, more delightfully complex and ultimately more rewarding than it has ever been.
All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.
Value investing is the discipline of buying shares at a significant discount from their current underlying values and holding them until more of their value is realised. The element of a bargain is the key to the process.
I find directing so incredibly rewarding and challenging and humbling and exciting and engaging. Scenes become challenging. Actors bring out the best of you. Circumstances demand you dig deep.
I could have probably been just as successful by not going to college, but it was the most intellectually stimulating environment that I was ever in.
I find it satisfying and intellectually stimulating to work with the intensity, brevity, balance and word play of the short story.
What's both fascinating and challenging about investing is that the changing nature of business and finance means you can never have it all figured out.
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.
I'm talking about intellectually and emotionally challenging, but at the same time it's actually not that challenging. So there's this dichotomy.
People think that my favorite roles to do are villains, but I find comedy to be the most challenging and rewarding.
When you make giving a priority, something happens inside of you. Especially when it's financially challenging to do so. It's like you loosen your grip on a value system whose motto says, "Money is the key to life and happiness and safety."
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.
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