You have to understand the business before you understand the stock.
Investors
Mario Gabelli
Born in 1942 in New York to an Italian immigrant family, Mario Gabelli earned his MBA from Columbia Business School and founded GAMCO Investors. He pioneered the concept of 'Private Market Value' (PMV) — estimating what a knowledgeable buyer would pay for an entire company — as a distinctive framework for equity valuation. Named to Barron's All-Century Team, he is a practitioner who fused value investing with an acquirer's perspective.
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Mario Gabelli's Other Quotes
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Concentration is the key. If you believe in something, you should bet big on it.
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The bulls might be right that the company's accounting is fine, but they're asking us to take it on faith. We prefer to verify.
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To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude and pays the greatest ultimate rewards.
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The single greatest edge an investor can have is a long-term orientation.
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We buy cheap stocks. That's all we do.
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Be fearful when others are greedy, and greedy when others are fearful.
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