Thursday, November 18, 2010

Value Investing

The other day I overhead some finance majors talking about an assignment where they had to practice "value investing."  The weird thing was that it sounded like the first time they had ever heard the term even though they were upperclassmen.  This is why unless you are willing to engage yourself in the world and do something like read on your own, you should probably not consider getting a finance degree from a rural state school; You're only going to be competing with the economics and mathematics grads from either the flagship state university or better private schools.  Sorry.

On a similar note, I am currently reading a book on Warren Buffett called "Warren Buffett, the Making of an American Capitalist." This book really gets to the nuts and bolts of how Warren Buffett has made decisions over his career and highlights his unrelenting striving towards cutting the fat in his own life and the companies that he invests in.  Overall I have come to admire the attitude he has towards his wealth, as well as the frugality he practices in his everyday life-even though he does go overboard sometimes.

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