"Success in investing is not a function of what you buy. It’s a function of what you pay.” – Howard Marks
— D.Muthukrishnan (@dmuthuk) April 24, 2015
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"Success in investing is not a function of what you buy. It’s a function of what you pay.” – Howard Marks
— D.Muthukrishnan (@dmuthuk) April 24, 2015
One reply on “Success in investing”
Absolutely right and probably the most simplistic definition of investment. It is not “what you buy”, but it is always “what you pay”. A gold merchant would sometimes earn little less than 1% on his sale during the day, whereas a sand dealer would earn not less than 30 to 40% margin on his sale. And mind it, the sand dealer does not have any overhead or fancy air conditioned retail store and hundreds of employees.