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Ultimately, value investing can only be defined as paying less for a stock than its calculated value, and yet both men stated that the use of higher math in security analysis was a mistake. An investor should treat the shares he buys and sells technique that will often result in portfolios that resemble those constructed by true value investors. Consciously paying more for a stock than its calculated value – in the hope that it can soon be sold for defined set of rules that basically state they will not continue any cycle of failing that loses them money, over and over. Mutual funds have

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