ABSTRACT
The relationship between confirming and doubting our personal knowledge is one of the most intriguing in the investment business. The best stocks I have ever bought are ones where we determine something about the company that the market doesn’t yet appreciate or value to an appropriate level. The market doesn’t value it, that is, until something triggers a revelation that you understood all along-for example, a developer purchases real estate next to the Sahara Casino Resort for a price that makes the casino’s worth, and its stock, double.
