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- Buffett is much more bearish in private than in public, which reaffirms my sense that his public persona and all the hype surrounding it don't help people become better investors.[1]
- [Value investors have] been trained to think, "Just buy it if it looks cheap! Macroeconomic risks are impossible to predict and don't matter anyway, and even if they do the Fed will bail us out!" Many people who think they're buying undervalued stocks are really making a bet that low-quality stocks will continue to outperform. [2]
- Most of the big miners, especially iron ore miners, have borrowed money to develop new mines. The market is on the verge of being oversupplied, but nearly all iron ore miners plan to increase production, and their significant debt levels make it tough for them to reduce production in a down market.[3]
1 comment:
Many thanks for the links– you've given me a 30-fold increase in visitors!
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