Benjamin Graham and David Dodd, 1934

The “new-era” doctrine—that “good” stocks (or “blue chips”) were sound investments regardless of how high the price paid for them—was at the bottom only a means of rationalizing under the title of “investment” the well-nigh universal capitulation to the gambling fever. Please follow and like us:0

Mario Gabelli
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Mario Gabelli

“If a CFO doesn’t reach out to the investment community, I can just walk. I don’t need to buy every stock. If the business is truly a great one, we will tolerate management inadequacies for awhile. Again, we believe that an average management running an above average franchise will do an above average job. An […]

warren buffett

Warren Buffett, Partnership Letter, 1967

“The evaluation of securities and businesses for investment purposes has always involved a mixture of qualitative and quantitative factors. At the one extreme, the analyst exclusively oriented to qualitative factors would say, “Buy the right company (with the right prospects, inherent industry conditions, management, etc.) and the price will take care of itself.” On the […]

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