Thursday, 7 February 2013
Bruce Greenwald on Value Investing
Do not miss his comments @ 9 minutes on Buffett's buying of Washington Post in Summer of 1972. The share price of Washington Post dropped 45% after he bought; and it was still a great investment.
If you behave the way such as Graham and Dodds prescribe, there are no bad days in the market. When the market is down, you got bargains and it is lovely to think of what you are buying at low prices. When the market is up, the bargains are gone, but you are rich.