"Money's greatest intrinsic value-and this can't be overstated-is its ability to give you control over your time."
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Key Lesson from "Psychology of money" written by Morgan Housel
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"One of our greatest freedoms is how we react to things."
You can't control everything in life, but you can control how you respond.
This is where true power lies — in your reactions.
To value investors, an asset isn’t an ephemeral concept you invest in because you think it’s attractive. It’s a tangible object that should have an intrinsic value
capable of being ascertained, and if it can be bought below its
‘Margin of safety’ is the difference between a stock price and its intrinsic worth, or value.
So if a stock is trading at $70 in the market, and you calculate the company’s intrinsic value as $100, you have a margin of safety of $30 (100 minus 70). In other terms, the sto...
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