If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment.
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Monthly archives of “August 2021”
Stories and Numbers
Every investment is valued by taking a number from today and multiplying it by a story about tomorrow. Sometimes an asset is mostly numbers, sometimes it’s all story.
Assets, Earnings Power and Growth
A further advantage of the value investor’s approach-first the assets, then the current earnings power, and finally and rarely the value of the potential growth-is that it gives the most authority to the elements of valuation that are most credible.
– Value Investing: From Graham To Buffett And Beyond