Seth Klarman is one of the greatest exponents of value investing today. He is the founder and president of value investing.
12 + 1 Seth Klarman quotes about value investing
"We define value investing as buying dollars for 50 cents."
“There is nothing esoteric about value investing. It is simply to determine the intrinsic value of a financial asset and buy it at a considerable discount on that value. The biggest challenge is maintaining the required patience and discipline to buy only when prices are attractive and sell when they are not, avoiding the short-term swings that engulf most market participants. ”
“Value investing is at the intersection between economics and psychology. Economics is important because you need to understand asset or business value. Psychology is just as important because price is a critically important component in the investment equation that determines the risk and return of an investment. The price, of course, is determined by the financial markets, varying due to the vicissitudes of supply and demand for each asset. "
“I have never met anyone who has been successful in the world of long-term investing without being a value investor. For me, it's like the E = MC2 of money and investment. "
"Few are willing and able to dedicate enough time and effort to be value investors, and only a portion of them have the right mindset to succeed."
"Unlike speculators, who think of stocks as pieces of paper that are only used to trade with them, value investors evaluate stocks as fragments of business ownership."
"Value investing requires high doses of patience and discipline."
“As the father of value investing said, Benjamin GrahamIn 1934, smart investors did not look to the market as a guide on what to do, but as a creator of opportunities. "
"Value investing, in effect, preaches the idea that the efficient market hypothesis is frequently wrong."
"Our mission as value investors is to buy bargains that financial theory says don't exist."
“Buying these bargains offers the investor a safety margin, which serves as protection against imprecision, errors, bad luck or the vicissitudes of economic and business forces. "
"Every financial asset is an option to buy at a certain price, hold at a higher price and sell at an even higher price."
"Successful investors often remain unmoved, allowing the greed and fear of others to work in their favor."