Dec 9, 2022Liked by Compounding Quality

Glad to hear a professional investor echo Buffetts correct argument on growth and value being two sides of the same coin. I’ve worked with lots of funds and investment advisors, it’s very engrained in the industry to talk and view stocks that way.

10 years ago Microsoft was a value stock, now they call it a growth stock. Is Microsoft different? Is Microsoft getting into cloud computing radically different than what they were doing before? I don’t think so.

In a lot of the professional investment world you have to talk that way, growth and value stocks. So I don’t write people off for talking that way, but I do typically try and poke around to see if they really believe it. If they do, I kind of write them off.

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Every kind of intelligent investing is value investing: you try to buy things below their intrinsic value.

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