Title: A Closer Look At One Of Warren Buffett's Most Famous Quotes
Headings: A Closer Look At Warren Buffett’s ‘Price Is What You Pay, Value Is What You Get’ Quote
A Closer Look At Warren Buffett’s ‘Price Is What You Pay, Value Is What You Get’ Quote
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Warren Buffett: “Price Is What You Pay, Value Is What You Get”
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Content: Once the reversal process begins, momentum develops and markets generally overreact. Does (can?) a swinging pendulum stop on a dime, at its position of balance between the two extremes? The signature advantage of active capital markets for long-term investors is the forum it provides to inexpensively and conveniently purchase or sell securities for 6 ½ hours every business day of the week. Ameritrade and E*TRADE, which cater to a rather frenetic coterie, would not be in business were it otherwise. By accepting or rejecting the “market’s” price at any given moment, an investor is effectively determining the only variable within his control. Investors can’t set prices, but rejecting a bid or offer makes a bold assertion: The amorphous market is occasionally way off the mark in pricing value. Accepting or rejecting is not so much a discrete decision as it is a process requiring the discipline and skill to screen out the onslaught of the market’s endless noise in search of an occasional meaningful signal. The intrusion extends to smart phones, insidious devices that we empower so that the markets can tempt and taunt us anytime and anywhere.