Where to find real stock market value

Many investors have a vague notion that “small” stocks and “value” stocks are something they should consider for their portfolios. Yet the average investor’s portfolio is often more “market-like,” that is, invested in big U.S. growth stocks. So where do value and small stocks fit in and why would an investor want them? The answer is very important for long-term […]

Client Letter – Q1 2004

The real danger to our wealth is not inflation or risky stock markets or federal budget deficits. Instead, the simple mistakes most investors make hurt them far more than any outside market or economic forces.  An investor with a diversified portfolio who is patient and waits out temporary slumps in the markets has a high chance of making his wealth […]