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Michael Mauboussin – Active Asset Management - [Invest Like the Best, EP.02]
Invest Like the Best with Patrick O'Shaughnessy
Float Is a Source of Power
In the late 19 eighties, a colleague of mine handed me a copy of al rapaports book, shoulder value. The idea behind expectations of esting is a very fundamentalsimp one. All investing collapses to buying things for low expectations itso it's all about that basic concept. And what the expectations approach forces you to do every time is to compare fundamentals versus expectations.
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