Our investing primer helps investors understand the basics and what matters most.
The financial considerations that are relevant to a situation or activity
The mental and emotional characteristics or attitudes of a person or a group
The value that the public market says an investment is worth at a given moment in time
The intrinsic worth of an investment, which may be more or less than the market price
Knowing what [effect] is happening in your investment program is not as important as knowing why [cause] it is happening.
History tells us that markets are driven by emotions (psychology) in the short term and economics in the long term, and that most market participants pay more attention to prices than they do to values.
is the question that guides success.
Speculators are price-driven
Investors are value and growth-driven
We commonly use the teachings of history’s best investors in our decision-making.
Value investing pioneer
In the short run, the stock market is a voting machine [popularity], but in the long run it is a weighing machine [economics].
Growth investing pioneer
Invest in businesses that have disciplined plans for achieving dramatic long-range growth.
Graham and Fisher’s protege
Time is the friend of the wonderful business, the enemy of the mediocre one.
Favorite Investing Practices
Focus on your investments, not the markets, and doing what's rational, not what's popular.
Think of stocks as businesses with intrinsic values based on individual metrics and qualities.
Know your competencies and team up with people who can help you make good choices.
Keep in mind that growth in intrinsic values drive long-term investment returns.