The hardest aspect of value investing is managing the psychological pressure when markets signal you are wrong; the market may decline an investment further after you purchase it, and success requires interpreting this as a better bargain rather than validation of your error.
normativepending
Speaker
Seth KlarmanEvidence Quote
“the market tells you you're wrong all the time...it might go to a bigger discount...you've got to see that as the market is now offering you a better bargain”
Created: 8/12/2026, 5:57:12 PM
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