Chapter 2. Improving the Approach
2.1 Even value investing can go wrong
Every day we benefit from the long history of human progress. Since the dawn of time, people have sought to better their lives and the lives of others. Just look around you – everything from cars to holidays to washing powder is constantly being improved and updated, as people strive for better.
So the question is: why should investing be any different? Why should investors be cut off from the rapid rate of progress seen in other spheres of society?
When Ben Graham constructed his brilliant theory of value investing almost a century ago, the world was a very different place. In the decades since, investors have benefitted from enormous technological advances, the ability ...