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Charlie Munger: Value investing

Benjamin Graham

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“The whole concept of dividing it up into ‘value’ and ‘growth’ strikes me as twaddle. It’s convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing.” Charlie Munger

From http://www.equitymaster.com/5MinWrapUp/detail.asp?date=02/01/2010&story=4

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