Value Investing During Periods Of EuphoriaGuest Post
An excerpt from Bruce Greenwald’s Value Investing: From Graham to Buffett and Beyond, first published in 2001. Presented without comment. Readers are encouraged to form their own conclusions.
During periods of investor euphoria, value investing will appear stingy and pessimistic in its estimates of intrinsic value. Its requirements that value be found in assets and earnings power will seem antediluvian when radically . . .
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