Decide what is right for you
Improving your value returns
- What you pay, not the growth you get, is the biggest driver of whether you make money.
- Focus on exploiting what we CAN know (valuation) and not what we CAN'T (the macro).
- Focus on areas that offer compelling value -- the greatest driver of long-term returns.
- Being different is usually uncomfortable but often profitable.
- Understanding balance sheet risk and income growth is as important as a high yield.