Warren Buffet's strategy? There is a better way.
“All smart investing is value investing” - Munger
Unless you pay something less than it is worth you can’t make superior returns by definition.
That "less" doesn't necessarily mean a low multiple, it must be low vs the strength of the company.
Great article Philo!
Thanks!
Yep, less than what it's worth...Worth isn't a function of conventional valuation metrics like P/E etc. As I like to say, P/IV is the holy grail.
https://www.philoinvestor.com/p/rufus-quest-for-the-safe-stock
Investing is more an art than a science. I like to think of successful investing as being an opportunist and recognizing opportunity where ever it may be.
You bet! Investing is more intelligent when it is most businesslike..
“All smart investing is value investing” - Munger
Unless you pay something less than it is worth you can’t make superior returns by definition.
That "less" doesn't necessarily mean a low multiple, it must be low vs the strength of the company.
Great article Philo!
Thanks!
Yep, less than what it's worth...Worth isn't a function of conventional valuation metrics like P/E etc. As I like to say, P/IV is the holy grail.
https://www.philoinvestor.com/p/rufus-quest-for-the-safe-stock
Investing is more an art than a science. I like to think of successful investing as being an opportunist and recognizing opportunity where ever it may be.
You bet! Investing is more intelligent when it is most businesslike..