Investing in the Classics

About

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Author: Mike Darmiento

I am a undergraduate student at the University of Chicago studying Philosophy. My two great passions are value investing and philosophy. I strongly believe in a principled value investing approach that emulates investors such as Klarman, Marks, and Abrams. My favorite investing books are Margin of Safety, The Most Important Thing, and Security Analysis, and my primary area of interest within investing is distressed debt.

 

As an avid reader, I find the connections between classical texts and the principles of value investing to be ubiquitous. As Klarman writes, “Investing is the intersection of economics and psychology.” Many of the psychological elements inherent to investing are not privy to investing, rather they have been taken from the philosophical canon and applied to financial markets; these concepts include prudence, skepticism, cognitive biases, rationality, decision making, and crowd psychology, among many others.

 

Therefore, in this website I hope to shed light on and analyze these connections. Experienced investors will likely find none of the conclusions I make to be revolutionary, nor is that my intention. My aim is to trace modern investment principles to their roots in the philosophical intellectual tradition and to expound how investors today can still learn from these classical authors and texts.

 

In terms of the logistics of running this website, I am aiming to do at least one post per week, though it will likely vary from time to time due to exams and the like. I will always try to remain true to the author’s intentions in my analyses, therefore I will quote and cite as many relevant passages from the text so that the readers can see where I draw my analysis from. There is no predetermined order of which texts I will cover as it will likely be highly influenced by what classes I am taking at the time and which texts I deem relevant to investing.

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