SpecOps Posted March 24, 2014 Share Posted March 24, 2014 Value investors as a group have at least one thing in common, they like to get $1 for 50 cents. I've heard stories of Buffett buying hail damaged (refurbished) cars because they are at knock down value and similar stories of how the value investing philosophy extends beyond investing. Personally I would say outside investing, I have exactly the same mindset. If I see an item in a shop I like, I'll wait until its been marked down (discounts are pretty regular in the UK) before buying it. Even buying my daily sandwich at lunchtime, I know which shops offer the best value (cheap price but also accounting for how generous the filling is!). For big items I will usually buy second hand, or ex display models unless the item being brand-new affects my enjoyment of it. Like a couple of years ago I bought a new electric piano, found the model I liked, but then found the model as it had been the year before (which it had basically not changed from) and purchased it for cheap from a dealer on ebay looking to offload the "old" stock. My girlfriend thinks I'm crazy (and tight-fisted) but for me it is just a mindset and like Buffett says the philosophy either instantly resonates with you or doesn't So is anyone else like me, and has anyone got any amusing stories of how cheap they've been outside investing? Link to comment Share on other sites More sharing options...
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