Seth A. Klarman remarks at MIT
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Seth A. Klarman remarks at MIT
I'd seen enough hitting behind the ball. By playing it safe, you can make a portfolio so pablum-like that you don't get any sizzle. You can diversify yourself into mediocrity. This sounds like heresy to many advocates of modern portfolio theory, but sticking our neck out worked for Windsor.I
John Neff • John Neff on Investing
an intrinsic value estimate keeps you focused on the value of the business, rather than the price of the stock—and
Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
The lessons to take from Buffet’s career, letters, etc. is not what criteria do I use to analyze stuff to buy, rather, where to get the capital to buy that stuff with. Don’t blow yourself up.