How to Think Like Benjamin Graham and Invest Like Warren Buffett

62 ATaleofTwoMarkets fragmented system with lots of different order books. The pressure on all sides is revealed by merger talks ...

AmplifiedVolatility 63 than of a piece of tradable paper or cyberspace. But this mind-set is hard to maintain when price quotes ...

64 ATaleofTwoMarkets to murder the money day trading and then attempt to murder his wife (he wound up in a South Carolina prison ...

AmplifiedVolatility 65 nities for wider price-value gaps, the economic characteristics have deteriorated, or management has chan ...

66 ATaleofTwoMarkets needed to fund ordinary needs such as home repair and ordinary desires such as recreation. As to either for ...

AmplifiedVolatility 67 ing of stocks. The spread has widened between Mr. Market’s cur- rency (prices, what you pay) and corporat ...

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69 Chapter5. Take the Fifth K nowing that the average cycle length of public capital markets is approximately four years does no ...

70 ATaleofTwoMarkets when the time is right to take advantage of Mr. Market’s festering gloom and when the time is right to stee ...

TaketheFifth 71 average market price, and bad managements produce bad market prices.”^1 Managers also undoubtedly attempt to inf ...

72 ATaleofTwoMarkets use market prices as a metric in valuing a business. That gets the process backward. Market price is thelas ...

TaketheFifth 73 Strategies You might as kwhether it is worth your time to do hardheaded anal- ysis of business or whether you wo ...

74 ATaleofTwoMarkets and inclination to conduct business analysis. While using an index fund gives a reasonable assurance of obt ...

TaketheFifth 75 ing three months when its stoc kprice on the purchase dates was $80, $120, and $100, respectively. The average p ...

76 ATaleofTwoMarkets imprudent to maintain it as long as it does not impair your ability to concentrate on selecting new candida ...

TaketheFifth 77 way to preserve wealth. If 100% of wealth were allocated to stocks and the stoc kmar ket overall dragged for a d ...

78 ATaleofTwoMarkets but less on how they allocate income between investment and con- sumption. The result is a national savings ...

TaketheFifth 79 markets those people may win, getting returns higher than the cost of the money. In gloomy markets they get crus ...

80 ATaleofTwoMarkets simultaneously sold put options and call options on Nikkei 225 fu- tures. This was a medium-ris kstrategy, ...

TaketheFifth 81 regarded “stoc koption warrants” as they were then called, as “a near fraud, an existing menace, and a potential ...