The central idea of value investing is that price and value are not always equal, yet should be at some date in the future. Because the date is unknown, patience is mandatory

The central idea of value investing is that price and value are not always equal, yet should be at some date in the future. Because the date is unknown, patience is mandatory

— Joel Tillinghast from “Big Money Thinks Small: Biases, Blind Spots, and Smart Investing” p. 4

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