Here is the link.
Seth Klarman is an investor who follows Warren Buffett & has achieved a 20% return since he started his fund. Here are 10 investing rules that Klarmin has followed to achieve this return...
- Remain calm and look at the fundamentals
- Buy below intrinsic value
He simply valued the business and bought a piece of it at a sizable discount.
Stock discount - intrinsic value
Rule 4: Don't just invest in value, try to find it at a bargain price
Panic - Do not know the true value -> discount - buy more of stocks - get cheaper - fundamental not change
Buy a stock at a bargain price! Below intrinsic values
Rule 5: Be patient. Opportunities will come to those who look for them
Rule 6: The market is inefficient
Facebook last year -> July 15 2019 - privacy issue -> 203 / share -> 120/ share
The stock market is not efficient (There are plenty of opportunities)
Rule 7: Always have enough liquidity
Rule 9: Trade and rebalance your portfolio
Rule 10: Know what you're doing