kohlik

From Private Equity Prop to Private Equity Drag

What's new in Charlie's comment - "Hence, I advocate being patient and buying shares when valuations are attractive (low/cheap) so that when price earnings multiples compress, the securities you have bought will be resilient and hold up."

I think even a novice in the financial world understand the principle of buying low and selling high - for price or for multiple!!

I am not undermining Charlie's credentials - he has done well as per the numbers you have just elaborated in the aticle. But for me it is difficult to understand this: Everyone in the financial sector - and i mean every signiicant one - thought or said some or other time before August 2007 that the markets "might see a correction". No one said or even imagined how severe it would be? No one forecasted the timing of the crisis, no one forecasted the severe pain "wall street" can create for "main street" and vice versa. Everyone failed!!