Wally Weitz is a hugely successful and yet relatively low profile money manager.
His performance over a very long period of time credibly places him among the world’s top performing investors.
Like his Omaha neighbor Warren Buffett, Weitz is a deep value investor. His fundamental investing criteria is the price of a security relative to its intrinsic value—the lower the price the better.
In the video below, Weitz speaks to Bloomberg about his biggest investment mistake.
In a nutshell, Weitz talks about the downside of the failure to imagination. Specifically, he refers to the damage caused by his failure to imagine how bad the 2007-2008 financial crisis would become.
It would be interesting is to ask Weitz what he thinks he might be failing to imagine at the moment.
Source: Bloomberg
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