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Benjamin Davies addressed criticism #4213.
#4213·Erik Orrje, 3 days agoI was careful to say "It is important to buy assets for significantly less than you think they are worth". Value is certainly subjective (in the sense that things are valued differently by different people).
It can't only be about what I think an asset is worth though right?🤔 Isn't the important thing to buy assets that people will value higher in the future? And in the process try to explain what people will subjectively value?
If the business is cash-flowing it doesn’t matter if other people in the market don’t bid it up. The business can buy back shares or distribute dividends to enrich shareholders.
Obviously this assumes you’ve invested in a business with competent management.