Decision Framework1 book · 2 highlights
Price Versus Value Discipline
Books Teaching This Pattern
Evidence
Charlie Munger
Tren Griffin · 2 highlights
“price is what you pay, and value is what you get.”
“If you’re an investor, you’re looking on what the asset is going to do; if you’re a speculator, you’re commonly focusing on what the price of the object is going to do, and that’s not our game.”
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 BedrockOperating PrincipleBottom-Up Only Valuation