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26-09-2010, 06:43 PM
(26-09-2010, 02:37 PM)valueinvestor Wrote: Almost all investments are the game of probability, the only difference is whether it is high or low probabilty.
Just as a food for thought: If we choose our investments well, and for stocks only invest in high-quality and well-managed businesses after understanding and minimizing the risks involved very well, we should be able to have a higher probability of success closer to 1, especially if we are prepared to take a long enough view on the investment and the underlying business.