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One of the most important factors to investment success,
in my opinion, is discipline. Whatever one's investment management style
one must adhere to some semblance of investment self-control.
For instance, as deep-value investors we are on the
constant look out for stocks trading at low P/E and cash flow multiples,
discount to book and/or net asset values, hidden assets, discounted valuations
compared to their peers, etc. In consequence, no matter how popular a
common stock might be, we must rigorously examine the company with our
all-important deep-value disciplines. Then, if and only if, the company
passes our serious evaluation, will we then purchase the security. |
