Avoid overpaying for a stock from "summary" of The Little Book of Value Investing by Christopher H. Browne
The most important principle in value investing is to buy stocks at a discount to their intrinsic value. This means paying less for a stock than what it is actually worth. It may sound simple, but it is a crucial concept that many investors overlook in their quest for quick profits. When you overpay for a stock, you are essentially setting yourself up for disappointment. Even if the company performs well in the short term, the high price you paid for the stock will limit your potential returns. In the long run, the market will eventually correct itself and the stock will revert to its intrinsic value.
To avoid overpaying for a stock, you must have a clear understanding of...
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