Value Investing World | Joe Koster | Substack

“Cycles, then, drive markets: three steps forward, two back. Without the alternating rhythms of expansion and contraction, rising prices and falling prices, there would be no movement.” —Maggie Mahar

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“Anyone who believes a growth rate in excess of 15% per annum over the long term is attainable should pursue a career in sales, but avoid one in…

May 23

“There hardly could be anything more important than the microeconomics. That is business. Business and microeconomics is sort of the same term…

May 22

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“‘Stocks for the long run’ is an idea that has been drilled into the public—and the public has found it comforting. People say, ‘I don’t care if my…

May 19

“The cycle of manias and panics results from the pro-cyclical changes in the supply of credit; the credit supply increases rapidly in good times, and…

May 18

“In my view, the road to investment success is usually marked by humility, not ego.” —Howard Marks

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