“Individual and institutional investors alike frequently demonstrate **an inability to make long-term investment decisions based on business fundamentals**.” [[Seth Klarman]] ([Location 584](https://readwise.io/to_kindle?action=open&asin=B07CNFFJ9J&location=584)) --- **Tags** -- [[quotes]], [[long-term-thinking]], [[value-investing]] **Source** -- [[202506221723 - LN - Modern Value Investing]]