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Buffett's Value Investing Principle
By 1966, Buffett's partnership had grown to $44 million. He made the decision to close the doors on new investors and his partnership so that he wouldn't disappoint his partners by investing in subpar opportunities. The first point is that value investing principle that you should only invest in what you truly understand. If you don't truly understand your investment, then it's very difficult to hold on during the inevitable drawdowns in the market.