Showing posts with label Howard Marks. Show all posts
Showing posts with label Howard Marks. Show all posts

"Serious investing consists of buying things because the price is attractive relative to intrinsic value. Speculation, on the other hand, occurs when people buy something without any consideration of its underlying value or the appropriateness of its price." - Howard Marks

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"Serious investing consists of buying things because the price is attractive relative to intrinsic value. Speculation, on the other hand, occurs when people buy something without any consideration of its underlying value or the appropriateness of its price." - Howard Marks
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