"All intelligent investing is value investing - acquiring more than you are paying for. You must value the business in order to value the stock." - Charles T. Munger. Subscribing to a diverse set of philosophies originating from Benjamin Graham and Philip Fisher to modernized concepts of Behavioral Finance, Value/Special Situations Investing and Active Selective Contrarian Index/Portfolio Investing.
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I don't refute the approach but I would have to say it does suit the mindset I hold. I am not able to predict whether tomorrow a stock is up or down(my record is far worse than average). But I feel far more comfortable looking at the businesses that are behind any particular stock.
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