Munroe runs xkcd, a webcomic that typically stars stick-figures talking about technology, science and relationships. In today's edition Munroe presents a
Value investing is frequently described as “buying dollar bills for 50 cents.” If I tell you that we are better off searching for dollar bills for 90 cents, you may laugh at my lack of ambitiousness: “Why should we settle for less?”
I'm not sure when the spread between large and small will shrink, but I'm confident it will. And here's why.
I believe our focus on dividend-paying stocks will continue to guide us through the rough times ahead.
We far prefer a business that is poised for future growth, versus a really cheap company in a shrinking business.
Expectations for 3rd quarter corporate earnings and economic growth were probably too pessimistic going into October.
Each is a leader in its respective industry, and all three benefit from durable, long-term macro trends.
