Technology companies should be valued at a discount to the shares of companies like Disney and Coca-Cola, which have long term earnings.

I'm at a stage in my career where I'd say human behaviour is the most important determinant of a business's long-term success. I don't care how smart...

Institutional constraints and market inefficiencies are the primary reasons that bargains develop. Investors prefer businesses and securities that are...

Companies in severe financial stress tend to be overlooked and underloved, because they have a risk or fundamental profile that many equity investors...

First, since investors cannot predict when values will rise or fall, valuation should always be performed conservatively, giving considerable weight...

When buying on the cheap, understand that near term outlook often stinks. During good times, value investing is often about buying companies that, at...

Our best ideas tend to come from what I call "old research, new events." That's typically the good company you've studied carefully and would love to...

Most of the time we're picking up the pieces after a high-growth company hits the wall at 80 miles per hour, having made at least one too many...

I often find opportunity in companies where a compression of valuation has already taken place. GE is an example. Six years ago, it was at 40x...

Value has many different meanings, so it's important to make sure you understand what the term means when it comes to picking a suitable investment....