The Money Game by Adam Smith:
We are at a wonderful ball where the champagne sparkles in every glass, and soft laughter falls upon the summer air, we know at some moment the black horsemen will come shattering through the terrace doors, wreaking vengeance and scattering the survivors. Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time, so everyone keeps asking, ‘What time is it?’ But none of the clocks have hands.
This link provides an excellent video of deep value or contrarian investing; See it!
I am still waiting on a reader to send a copy of Deep Value. Then we can go into a close analysis of the book.
2014-Year-in-Review-Collum from a long-term investor.
Line between rational speculation and market collapse
HAVE A HAPPY AND PROSPEROUS NEW YEAR!
Walter Schloss had a phenomenal track record over many decades. His accounts returned profits almost every year, so the amount he managed stayed small. His approach is a good one for individual investors. he would buy cheaply and average down. However, now might be a difficult time to practice his approach with many sectors of the market lacking a margin of safety unless you delve into (horrificly cyclical) certain mining companies, oil-drillers, and community banks. But if you are interested in the deep value approach, you must study Schloss. Does your personality match his approach?
The Superinvestors of Graham and Doddsville by Warren Buffett
16 Investing Rules from Walter Schloss
Walter Schloss – OID Interview
Walter Schloss Lecture: http://youtu.be/v-7e_97icWY
Learning from Schloss (excellent review) http://youtu.be/5KM9eY7BbzA
What do YOU think?