Ignore Mr. Market And Stick To Value Investing PrinciplesRupert Hargreaves
"How should Mr. Market's increasingly volatile behavior influence investors? In our view, investors should, more than ever, act on the assumption that any stock or bond can trade, for a time, at any price."
The quote above is pulled from Seth Klarman's December 2000 letter to investors. Written at the end of 2000, the seasoned value investor penned the letter a few months after the market peaked in August 2000. The Internet bubble reached euphoria stage in 1999, and the market remained elevated in 2000, but by the end of the year, cracks were showing. By . . .
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