10 Dec 2019
What are your thoughts?
A very debatable question, and there's no right or wrong here. I would instead say that you should buy a good stock at a reasonable price, to get one foot in, but accumulate more if it becomes more undervalued, provided that the stock remains a good stock. Build your positions over time, Rome was not built overnight.
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As most people have answered that it's likely the wonderful company at a fair price. Thought it'd add some colours to this.
Alot of times companies are cheap for a reason. The underlying business economic value gradually eroded with each passing day. this becomes an investment that's a race against time.
Time is the friend of a quality company as the management has time to execute and produce results.
Buying cigar butt style companies is like betting on the reversion to mean, that they will go back to the old days of glory. So the million dollar question seems to be, can they?
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price...
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