Tips by Warren Buffett
Managements that say or imply during a public offering that their stock is undervalued are usually being economical with the truth or uneconomical...
Tags: IPOs
The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the...
Tags: competitive advantages, moats
Either they're trying to con you or they're trying to con themselves.
One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as "marketability" and "liquidity", sing the praises of...
In Wall Street you have this progression from the innovators to the imitators to the swarming incompetents. And what happens is that the results...
Tags: hedge funds
I have 2 views on diversification. If you are a professional and have confidence, then I would advocate lots of concentration. If it's your game,...
Tags: diversification
An intelligent investor in common stocks will do better in the secondary market than he will do buying new issues. The reason has to do with the way...
Tags: IPOs
Volatility does not measure risk. Past volatility is not a measure of risk. It's nice math, but it's wrong. If a farm in Nebraska used to sell for...
Tags: risk, volatility
Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the...
We don't do due diligence or go out kicking tires. It doesn't matter. What matters is understanding the competitive dynamics of a business. We can't...
