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1.
Charlie Munger advised investors to learn many different facets of a business they might want to invest in.
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True. This helps them to better understand the economics of a certain business, which in turn can help them avoid shortsightedness.
2.
Ralph Wanger is known for investing according to _______.
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Themes. For example, if money is accumulating in one part of the world, he would look into businesses that serve that part of the world.
3.
Why didn't Marty Whitman like to use book value when considering a company to buy?
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He felt that it overlooked too many intangibles. Intangibles don't appear as such on balance sheets.
4.
Whom did Bill Ruane study under?
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Ben Graham. Ruane studied under Graham.
5.
Bill Nygren said he looks for stocks where 80% of the commentary about a company revolves around a piece of business that contributes ________.
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About 20% of the profits. When he finds a situation like this, it is likely the market is undervaluing the firm.
6.
As an investor, Bill Miller mixed _______.
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Growth stocks with value stocks. In fact, he was often called a growth investor in a value investor's clothing.