Operating Principle1 book · 2 highlights
Bottom-Up Only Valuation
Books Teaching This Pattern
Evidence
Charlie Munger
Tren Griffin · 2 highlights
“Graham value investors do not spend time with top-down factors like monetary policy, consumer confidence, durable goods orders, and market sentiment in doing a business valuation or investing.”
“What does the company sell and who are its customers and competitors? What are the key numbers that represent the value the business generates?”
Related Patterns
Risk DoctrineConsistently Not Stupid Beats BrilliantSignature MoveIntrinsic Value Through Cash Flow Not MomentumSignature MoveStock as Business Ownership Not Ticker SymbolCornerstone MoveMr. Market as Servant Not MasterStrategic PatternFree Cash Flow as Valuation BedrockSignature MoveIndependent Thought Over Herd Regression