W. Allen WallaceMar 23, 20186 minPrinciplesPrinciple 3: Define risk as the permanent loss of capitalRisk: a four-letter word that many people avoid discussing in polite company.
W. Allen WallaceJan 12, 20184 minPrinciplesPrinciple 2: Invest with a margin of safetyWe always attempt to purchase securities with a margin of safety, and we utilize fund managers who do the same.
W. Allen WallaceOct 6, 20175 minPrinciplesPrinciple 1: Contrast Investment Versus SpeculationIn our estimation, avoiding mistakes is much more important to success than outguessing the competition regarding short-term price changes.