The Warren Buffett Way: The World’s Greatest Investor
Investing in Fixed-Income Securities 155 Buffett is widely regarded as the world’s greatest value investor, which basically mean ...
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157 10 Managing Your Portfolio U p to this point, we have studied Warren Buffett’s approach to making investment decisions, whic ...
158 THE WARREN BUFFETT WAY has no need to watch a dozen computer screens at once, for the minute- by-minute changes in the marke ...
Managing Your Portfolio 159 Active portfolio managers argue that, by virtue of their superior stock-picking skills, they can do ...
160 THE WARREN BUFFETT WAY out that there is a third alternative—a very different kind of active port- folio strategy that signi ...
Managing Your Portfolio 161 they provide a method for isolating the companies with the best chance for high economic returns. Bu ...
162 THE WARREN BUFFETT WAY thinking: “With each investment you make, you should have the courage and the conviction to place at ...
Managing Your Portfolio 163 investors to patiently hold their portfolio even when it appears that other strategies are winning. ...
164 THE WARREN BUFFETT WAY of concepts that is collectively known as modern portfolio theory.Be- cause this is a book about Buff ...
Managing Your Portfolio 165 Buffett’s View of Risk In modern portfolio theory, the volatility of the share price def ines risk. ...
166 THE WARREN BUFFETT WAY value. The more knowledge you have about your company, the less risk you are likely taking. “Diversif ...
Managing Your Portfolio 167 Fifty years after its original publication, the Columbia Business School sponsored a seminar marking ...
168 THE WARREN BUFFETT WAY “His portfolio was concentrated in very few securities and there- fore, his record was much more vola ...
Managing Your Portfolio 169 Bill Ruane Buffett f irst met Bill Ruane in 1951, when both were taking Ben Gra- ham’s Security Anal ...
170 Table 10.2 Sequoia Fund, Inc. Annual Percentage Change Sequoia S&P 500 Year Fund Index 1971 13.5 14.3 1972 3.7 18.9 1973 ...
Managing Your Portfolio 171 annual return of 18 percent, compared with the 12.9 percent of the Standard & Poor’s 500 Index. ...
172 THE WARREN BUFFETT WAY quarter’s, performance? They would probably have been canned, to their clients’ profound loss. MAKING ...
Managing Your Portfolio 173 The Decision to Buy: An Easy Guideline When Buffett considers adding an investment, he f irst looks ...
174 THE WARREN BUFFETT WAY It works to reduce transaction costs.This is one of those com- monsense dynamics that is so obvious ...
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