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Even so, some critics argue that the understanding of these driving factors today diminishes any competitive edge investors like Buffett previously enjoyed. When everyone is aware of certain investment strategies and factors, it begs the question of whether such repeated success can continue.
The Essence of Value Investing
A fundamental aspect of value investing, emphasized in the discussion, is the difference between price and value. The mantra, "Price is what you pay; value is what you get," reflects Buffett’s investment philosophy. Value investing encompasses identifying undervalued assets where the price does not reflect their true worth.