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— Seth Klarman"The strategy of buying what's in favor is a fool's errand, ensuring long-term underperformance. Only by standing against the prevailing winds - selectively, but resolutely - can an investor prosper over time. But for a while, a value investor typically underperforms."
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I like charcoal drawing a lot. I'm not very good, but I always find myself buying canvases and paints whenever I'm on location, because I always have this ambition to fill the hotel room I'm in and turn it into an art studio.
— Ben Schnetzer
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We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.
— Charlie Munger
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