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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Steve168 who wrote (18514)	1/22/2004 12:27:19 AM
From: Mark Marcellus	Read Replies (1) \| Respond to of 78958

I don't think it's exactly true that Graham "never liked" growth, it's more that he was very conservative in what he was willing to pay for it because of the uncertainties involved. In principle I think he was right - a net/net today is more certain than anticipated x% growth over the next y years. I think that Buffett's insight was that, for certain companies, you can predict the growth with a greater degree of confidence than Graham was willing to allow.