“The share price must be less than book value. Preferably it will be less than net working capital less long term debt.” LongBookValuesTermShareDebtLong TermShare Price Author:Peter Cundill
“Protect the downside. Worry about the margin of safety.” ValuesWorryProtectSafetyInsightfulMargins Author:Peter Cundill
“The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic.” ImportantValuesMajorityInvestingCharacteristicsAttributesInvestors Author:Peter Cundill
“The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing is one of the most effective ways of achieving good long term results.” WayGivingKindLongValuesTermDifferencesResultsPayAchieveSafetyInvestingLong TermMarginsGood Long Author:Peter Cundill
