Investing With Earl Weaver

It was a tough weekend: We lost two baseball legends Stan Musial and Earl Weaver. Although I respect and admire Musial, Weaver had the most profound effect on my life. I grew up with his Baltimore Orioles' teams and have adopted many parts of his baseball philosophy to my life and the markets over the years. One maxim in particular is applicable to the markets -- and especially the asset-based value investing approach I favor. Winning, according to Earl, is about good pitching, defense and three-run homers.

This is true in the markets as well. If we take the baseball analogy even further it was Warren Buffett who pointed out that investing is a game where you have unlimited strikes and can wait to swing at only the very best pitches. We can choose to miss all the new paradigms, technological breakthroughs and one hit wonder consumer stocks at nosebleed multiples. No one is going got make us close out our accounts if we pass on three consecutive overpriced IPOs. You don't lose your investing privileges for not chasing your broker's idea of the day. You can wait for the pitch you like, and then, and only then, start sawing away....631 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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