underscored

@underscored

2 clips · 1 follower

Follow
Tag:contrarian-investingClear

The market can stay irrational longer than you can stay solvent, but the truly dangerous corollary is that you can be right about the business and still go broke because you were wrong about the timing. Patience without a balance sheet to survive on is just wishful thinking.

— Seth Klarman, Margin of Safety (1991)
5h ago

The single greatest edge an investor can have is a long-term orientation that makes you a natural seller to institutions that are forced to sell into panic. Most of your advantage in investing comes not from being smarter, but from having a longer time horizon than someone who structurally cannot.

1d ago

Underscored — save the words that stop you in your tracks.

Start saving quotes →