What is meant by “Exceptional” Investors?

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Dictionary.com defines exceptional as 1. “forming an exception or rare instance; unusual; extraordinary” or 2. “unusually excellent; superior.” This follows with the contrarian philosophy of investing, which advocates going against the trend of the overall market.

“I buy stocks when the lemmings are headed the other way.” (Warren Buffet)

“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.” (Warren Buffet)

In order to acheive superior investment results, it is my belief that we must think independently and intelligently about each individual investment decision, without falling victim to herd mentality.

Welcome Exceptional Investors!

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I would like to begin by outlining my investment philosophy. I am a firm proponent of the value philosophy of investing developed by Benjamin Graham, and implemented by many of the most successful investors ever. A list of history’s greatest investors would have to include such value legends as Warren Buffet, Charlie Munger, John Templeton, John Neff, Walter Schloss, Jean-Marie Eveillard, Seth Klarman, David Dreman, Joel Greenblatt, and Charles Brandes. This list is by no means exhaustive, however I believe that it speaks to the merit of the value philosophy. The application of Graham’s value principles form the basis of all my investment decisions, however it is not the only consideration. It can therefore be considered a ‘necessary but not sufficient’ condition of investment. Other important philosophies that I believe have the potential to complement the value philosophy are the ‘growth at a reasonable price’ (GARP) philosophy developed by Peter Lynch, as well as the contrarian philosophy which is often seen as a branch of value investing. That said, I believe that Graham’s ‘margin of safety‘ concept must form the cornerstone of every investment decision.