You might think of consumption as a fairly passive activity, but buying new products and services is actually pretty risky, at least if you value your time and money. — James Surowiecki Copy Share Image
Value investors will not invest in businesses that they cannot readily understand or ones they find excessively risky. Hence few value investors will own the shares of technology companies. Many also shun commercial banks, which they consider to have unanalyzable… — Seth Klarman Copy Share Image
