easy
Thoughts

Phil Carret

Things are most dangerous when they appear easy. Carret states “margin debt – stock market debt is terribly dangerous, because it is so easy to get.” We can imagine that taking credit from banks (both funded or unfunded) is so difficult, tedious and arduous process. Raising loan in the market needs just a call to […]

Wisdom
Charlie Munger

Shelby Cullom Davis & The Wisdom of Great Investors

27-12-2018 By The Acquirer’s Multiple One of the best papers ever written on investing is The Wisdom of Great Investors, provided by Davis Advisors. Davis Advisors was founded by legendary investor Shelby Cullom Davis, a leading financial advisor to governors and presidents, who parlayed an initial investment of $100,000 in the late 1940s into more than $800 million by the end of […]

PE
General Information

HIGH FLYERS

“If a stock is selling at a PE of 50, you have to be right about too many things to consider the principal secure: at a minimum you have to be right about both future earnings and future PE. With a PE of 12, several points below the historic average, you can get away with being […]

risk
General Information

Andy Redleaf

“In the real economy we see all the time people being paid for hard work, for perseverance, for insight, and for experience. It is easiest to see this by starting with some extreme cases. There are many great heroes among the great entrepreneurs. It is almost impossible to think of one who got paid for taking risk. The […]

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