The Most Important Thing Is … Value
The Most Important Thing Is … Value
This chapter is about a vital expectation for successful investing: an accurate estimate of intrinsic value. Warren Buffett says that the best investment course would teach just two things well: how to value an investment and how to think about market price movements. All approaches to investing in company securities can be divided into two basic types: those based on analysis of the company’s attributes, known as “fundamentals,” and those based on study of the price behavior of the securities themselves. This chapter explains what technical analysis is and proceeds by describing momentum investing. It also considers two principal schools of investing, both driven by fundamentals: value investing and growth investing. In particular, it highlights value investing’s potential to consistently produce favorable results. The chapter includes comments and insights from four renowned investors and investment educators.
Keywords: value, investment, price, securities, fundamentals, technical analysis, momentum investing, value investing, growth investing
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