Value Investing Quotes

“Those that use only fundamental variables refer only to a company's business performance, not the relationship between that performance and its share price. Studies have sorted stocks using returns on equity or on total capital invested, growth in earnings per share, growth in assets—as opposed to sales growth—and various measures of profit margins. Companies with high marks on these variables are successful firms whose shares are inherently attractive to investors. However, consistent with the studies we discussed above, it is often the firms that ranked lowest on these measures—low returns on capital or narrow profit margins—that have tended to generate the highest future market returns.”
― Bruce C. Greenwald, Value Investing: From Graham to Buffett and Beyond

“value investors prefer to estimate the intrinsic value of a company by looking first at the assets and then at the current earnings power of a company. Only in exceptional cases are they willing to factor in the value of potential growth.”
― Bruce C.N. Greenwald, Value Investing: From Graham to Buffett and Beyond

“sustainable,”
― Bruce C.N. Greenwald, Value Investing: From Graham to Buffett and Beyond