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
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.
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