Learning to evaluate value – being able to know with a high degree of accuracy and certainty the intrinsic value of an investment
The best way to learn to understand value is to be in a niche for a while and looking at a lot of deals, both as a buyer and as a seller. There is no better way to learn to be a better buyer then to get involved from the seller perspective and vice versa.
"In turbulent times gold or precious metals is a great investment." -- WSJ article
"Junk bonds are risky." --Opportunity in BB rated bonds. (default rate approximately 1.5% compared to default rate on BBB (which are “investment grade" bonds) which is approximately 1%. So the chance of default goes up by half a percent, but the yield on the bond is 1-2% higher!
"The key to investing success is to find a great advisor and let them invest for you."