The Importance of Trust in the Market

Seth Klarven: Investors can be right yet appear wrong to themselves and anyone who looks. Jim Boulden: Is this a personality quirk of the value investor? How is it that you can stand up in front of the entire all knowing marketplace and insist that something is right when the overwhelming majority is yelling at you every day between the hours of 9, 30 and 4 that you are wrong? The key for an investor is to have a calculator and a way of assessing value," he says.