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A Capital Management
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After unacceptable personal losses in 2008, I spent many years attempting to understand the nature of investment cycles and the characteristics of companies and valuation metrics that drive superior long-term returns. The books listed below encompass my GOAT list. Notes can be accessed by clicking the links, which may help understand how we think about and attempt to understand market cycles and company prospects.
"Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor"
(Seth Klarman, 1991)
Focus and Hydra funds will often run higher cash balances than traditional fund s in order to be in a position to benefit nevitable occurrences.
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