MI Rewind: Richer, Wiser, Happier w/ William Green
The Intrinsic Value Podcast - The Investor’s Podcast Network
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The Principles of Optimism Over Time Are More or Less True Over Time
For Joe Greenblatt, that means I'm going to buy companies that are undervalued. Howard Marx says the single most important thing is how much optimism is priced into this asset? Is there too much optimism or too little? And if it's cheap, you'll end up doing well. What makes it difficult is that these simple principles aren't true all of the time. So sometimes you can do something really overpay massively for a company that you don't understand and actually do brilliantly.
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