Warren Edward Buffett (born 30 August 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net worth of over $113 billion as of June 2022, making him the world's fifth-wealthiest person.
In the business world, the rearview mirror is always clearer than the windshield.
You... have to have the knowledge to... make a very general estimate about the value of the underlying businesses. But you do not cut it close. That is what Ben Graham meant by having a margin of safety.
Our advantage, rather, was attitude: we had learned from Ben Graham that the key to successful investing was the purchase of shares in good businesses when market prices were at a large discount from underlying business values.
