“Value investing was once the purchase of tangible assets at levels below their market value. Value investing today is buying sustainable competitive advantages at a good price.” — John Kay Copy Share Image
“What was true was what was believed, and what was believed was true. And when the bubbles burst, what had once been believed and… — John Kay Copy Share Image
“Three simple rules - pay less, diversify more and be contrarian - will serve almost everyone well.” — John Kay Copy Share Image
“There is probably no worse investment strategy than following the conventional wisdom with a time-lag, and that is precisely what many small investors do… — John Kay Copy Share Image
“Value investing was once the purchase of tangible assets at levels below their market value. Value investing today is buying sustainable competitive advantages at… — John Kay Copy Share Image
“An asset is worth what someone is willing to pay for it; and the value of an asset is the cash it will generate… — John Kay Copy Share Image
“To win the lottery once may be evidence of luck or skill; to win it repeatedly is evidence of skill.” — John Kay Copy Share Image
