Secular Market Cycles: Three Steps To "Good Enough"

In his latest piece, Francois Sicart, Founder and Chairman of Tocqueville Asset Management, explores how  a “good enough” understanding of a security’s value, in conjunction with discipline and common sense, can result in investment success. “The plain truth is that in the practice of investment, “good enough,” combined with a solid dose of common sense, usually beats precision and faith in mathematical models.  So, if a careful analysis has given us a “good enough” idea of a company’s worth, we can assume that its market-traded shares will fluctuate – sometimes wildly – around that fundamental value.  And that may be…