Wednesday, September 18, 2013

Notes from Charles de Valux's Value Investing Congress Presentation

They're very cautious right now: "never been as cautiously positioned."  He feels US stocks are fully priced right now.

They've reduced their gold position as well.  He's worried a lot about China and says it's a big question mark.   However, he thinks Japan is cheap mainly due to corporate governance.

He emphasized minimizing losses as a key to compounding wealth.

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Lunch is for wimps

Lunch is for wimps
It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.