What you need instead is a deep seated belief in the school of value investing and the discipline to stick to it come what may. Ruane has laid out four rules that guided his investment career. These are
1) buy good businesses,
2) buy businesses with pricing flexibility,
3) buy net cash generators and
4) buy stock at modest prices.
Clearly, not much different from what Buffett follows. And certainly very easy for others to follow as well.
1) buy good businesses,
2) buy businesses with pricing flexibility,
3) buy net cash generators and
4) buy stock at modest prices.
Clearly, not much different from what Buffett follows. And certainly very easy for others to follow as well.
