Solomon Mcharo’s Reviews > Security Analysis: The Classic 1951 Edition > Status Update

“Charlie Munger once explained..“For an ordinary person, can you imagine just sitting there for five years doing nothing? It’s so contrary to human nature. You don’t feel active. You don’t feel useful, so you do something stupid.” A big part of investing is indeed waiting patiently for a “fat pitch” right over home plate and then swinging aggressively.”
Excerpt From
Security Analysis
Seth A. Klarman

“The investor should not be stampeded into selling out holdings with a strong past record because of a current decline in earnings. He is likely, however, to pay more attention than usual to the question of improving the quality of his securities, and in many cases it should be possible to gain some benefits through carefully considered switches.”

Excerpt From
Security Analysis

“The investor should not be stampeded into selling out holdings with a strong past record because of a current decline in earnings. He is likely, however, to pay more attention than usual to the question of improving the quality of his securities, and in many cases it should be possible to gain some benefits through carefully considered switches.”

Excerpt From
Security Analysis

“But a prudent and intelligent investor should be able to avoid this temptation, and reconcile himself to accepting an unattractive yield from the best bonds, in preference to risking his principal in second-grade issues for the sake of a large coupon return.”

Excerpt From
Security Analysis