What is intrinsic value

“Book value tells you what has been put in; intrinsic business value estimates what can be taken out. “ Buffett: Chairman’s Letter – 1983 – Berkshire Hathaway, Inc. Link: http://www.berkshirehathaway.com/letters/1983.html Now let’s focus on two terms that I mentioned earlier and that you will encounter in future annual reports. Let’s start with intrinsic value, an all-important concept that […]

Quotes on shorting stocks

Charlie and I have agreed on around 100 stocks over the years that we thought were shorts or promotions. Had we acted on them, we might have lost all of our money, every though we were right just about every time. A bubble plays on human nature. Nobody knows when it’s going to pop, or […]