A high price can make a good business into a very bad investment, whereas a low price can turn a mediocre business into a very sound and profitable investment.
“I started out looking for cheap securities… Over time, I really fell in love with strong businesses. I morphed into finding strong businesses at bargain prices. I still have a streak in me that favours finding really cheap securities – I just can’t help it. But over time, I’ve become more attracted to looking for great businesses that are inherently […]