Investment

The market pendulum swings from undervaluation to overvaluation on a continual basis.  Very seldom is the market (or individual stocks at that) in perfect equilibrium.  By perfect equilibrium, I mean perceptions of value (market price levels) equaling the true value.  This is a concept that Howar

“Most investors are primarily oriented toward return, how much they can make and pay little attention to risk, how much they can lose.”

-- Seth Klarman