- Value investing is different from speculation
- An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.
- Value investing depends on the intrinsic value
- Value investors seek a margin of safety
- Think in terms of years or decades, not weeks or months
- Value investing requires a contrarian mindset
- Avoiding losses is the first priority
- Know what you own and why you own it
- Think like a business owner, because you are.
- Seek an "adequate return"
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about 4 years ago