It is important to view knowledge as sort of a semantic tree — make sure you understand the fundamental principles, i.e. the trunk and big branches, before you get into the leaves/details or there is nothing for them to hang onto.
“Investor do not make mistakes, or bad mistakes, in buying good stocks at fair prices,” Graham said. “They make their serious mistakes by buying poor stocks, particularly the ones that are pushed for various reasons. And sometimes- in fact very frequently-they make mistakes by buying good stocks in the upper reaches of bull markets.” Please […]
Proper investing begins with the foundational principle that stocks are not pieces of paper, but they represent ownership positions in real businesses. Once you understand this, only two questions must be answered: (1) What kind of businesses do you want to own? (2) How much should you pay for them? Please follow and like us:0
On competition: “I thought back on my running career at Oregon. I’d competed with, and against, men far better, faster, more physically gifted. Many were future Olympians. And yet I’d trained myself to forget this unhappy fact. People reflexively assume that competition is always a good thing, that it always brings out the best in people, […]