From The Guru Investor:
Hedge fund guru Seth Klarman rarely talks with the media, but he recently gave an in-depth interview to Charlie Rose through the group Facing History and Ourselves. And
Business Insider has provided a nice summary of the legendary value investor’s wisdom.
Much of his advice focuses on the psychology of value investing. "Investing is the intersection of economics and psychology," Klarman says. "The economics, the valuation of the business, is not hard. The psychology -- How much do you buy? Do you buy it at this price? Do you wait for a lower price? What do you do when it looks like the world might end? Those are the harder things."
Much of what Klarman says also involves thinking long term and not being deterred by short-term gyrations...
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More from Seth Klarman:
Legendary manager Klarman's top five dividend stocks
Four cheap stocks investment legend Seth Klarman owns
Value legend Klarman: Ignore these lessons at your own risk
