“All intelligent investing is value investing, but not all value investing is intelligent investing.“

Why Old School Value Investing is Overrated

“All intelligent investing is value investing, …”

That is one of the famous quotes of legendary investor Charlie Munger. He is of course correct: as pay cents on the dollar you will be making money.

However, Charlie Munger would be ashamed if he would see how his knowledge is put to use today. Many people think that what has worked in the past, still wor…