Christopher Browne, a managing director of Tweedy Browne and author of The Little Book of Value Investing, sits down for an interview with CNNMoney. Among his comments:
Most people want to own sexy, fast-growing stocks. But as Buffett says, you pay a dear price for a cheery consensus. As a value investor, you hold your nose sometimes and buy a boring stock because it's cheap. Then you have to be patient. That's hard for a lot of people in my business. It's like they're afraid some client or boss will say, "Hey, you haven't made a trade in five months! What are we paying you for? "
They're type A personalities. Value investors are type B - not excitable, non-egotistical.
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