The Business of Value Investing.pdf

136 The Business of Value Investing Buffett was shunning technology while the used car salesmen were doubling their money in mon ...

Have the Discipline to Say No 137 the “ smart ” money is always talking about the crowd pleasers, without regard to any fundamen ...

138 The Business of Value Investing the situation and determines that she still has an attractive invest- ment with superior fun ...

Have the Discipline to Say No 139 re inforce the idea that successful value investing always emphasizes the process fi rst and t ...

140 The Business of Value Investing decline because it offers an even better bargain investment. Again, she makes the investment ...

Have the Discipline to Say No 141 selling at signifi cant discounts to intrinsic value, anchoring on a set price often causes mo ...

142 The Business of Value Investing arise if the stock price doesn ’ t reach your target. It ’ s silly to forgo a potential 82 p ...

Have the Discipline to Say No 143 the difference of the market ’ s short - term voting machine reaction compared with the market ...

144 The Business of Value Investing trading at $ 65. I held the shares for four years, the fi rst two of which I was down on my ...

Have the Discipline to Say No 145 Discipline Is Simple but Rarely Easy A disciplined approach may be simple enough to follow, bu ...

146 The Business of Value Investing Key Takeaways In investing, and in life, having the discipline to say no can mean the diffe ...

8 CHAPTER Practicing the Art of Patience THE FIFTH ELEMENT All men ’ s miseries derive from not being able to sit in a quiet roo ...

148 The Business of Value Investing investor understands that patience is an asset, not a hindrance. A slight revision to Pascal ...

Practicing the Art of Patience 149 can do one of two things with its cash fl ow: either reinvest the cash back into the business ...

150 The Business of Value Investing Many investors are quick to ignore the enormous value that a dividend yield can add to the o ...

Practicing the Art of Patience 151 situations. As we end 2008 with many security prices approaching 1973 valuations, the populat ...

152 The Business of Value Investing There are many advantages to making a few sound, sizable investments and just sitting back a ...

Practicing the Art of Patience 153 important distinction and thus view the stock market only for what it is: a forum to acquire ...

154 The Business of Value Investing will wait patiently and continue to analyze securities, learning as much as they can in anti ...

Practicing the Art of Patience 155 Shaw was able to capitalize on minuscule short-term ineffi ciencies in the bond markets with ...