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My Philosophy

I confidently buy lots of undervalued companies


Explanation word by word

I – There is no wrong or right approach in investing as each one of us should stick to personal believes and attitudes.

Confidently – I feel comfortable investing not because I am arrogant or know something other people don’t (the opposite is true), but because I tilt the strongest law of statistics in my favour: the law of large numbers.

Buy – There is no reason to work hard and value companies if I am unwilling to act based on my findings. Thus, whenever I find an asset trading at a low-enough price, I buy it.

Lots of – If your method works on average and you use it few times, then you might end up with disappointing results; buying lots of companies means both knowing how much you can be wrong on single valuations and how much you trust the process in its entirety.

Undervalued – Valuing companies using a DCF model is for me the most reliable route to investment serenity. I don’t feel comfortable using market multiples.

Companies – I rarely talk about stocks and this helps me to think long term. Companies are not intended to be owned for short term trading and I will never be a good trader (and may never be a good long term investor as well).