"A bottom up approach to investing doesn’t look at what will happen and therefore it’s much easier to apply. **Nobody knows what will happen in the future but looking at what has already happened and is reflected in the assets the analyzed company owns make investing much less risky**." ([Location 3556](https://readwise.io/to_kindle?action=open&asin=B07CNFFJ9J&location=3556)) --- **Tags** -- [[quotes]], [[value-investing]], [[margin-of-safety]], [[forecasting]], **Source** -- [[202506221723 - LN - Modern Value Investing]]