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Warren Buffett has always followed an intrinsic value approach: one in which a security is deemed to be attractive based on the relationship between its price and the value that a knowledgeable buyer would pay for the whole business.
He says his reputation as a knowledgeable buyer brings sellers to his door.
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As Jean-Marie Eveillard, the lead manager of First Eagle, the five-fund value boutique, explained, "We are trying to figure out what a somewhat knowledgeable buyer expecting a reasonable return would be willing to pay in cash -- no paper, please -- for the entire business".
"They simply didn't do what is expected of a knowledgeable, sophisticated buyer, and are now looking for someone other than themselves to take responsibility," Roger Holtsclaw, an agent who was hired by Mr. Little as an expert witness, said in a court deposition.
The knowledgeable buyer, having just banked $250,000 from Sotheby's, is always quoted as saying "the guy just didn't know what he had".
The high prices amazed many of the more knowledgeable buyers in the audience.
Knowledgeable buyers and frequent use lead to constant evaluation of tangible product characteristics.
"It was the biggest name, the last name that was synonymous with music, commitment, catalogue and knowledgeable buyers.
The rule of caveat emptor or buyer beware, is generally well-founded when it comes to transactions involving well-informed and knowledgeable buyers and sellers.
Why do buyers shop at a knowledgeable bookseller like Portland, Ore .s Powell's, for examPowellhen they could get better deals at Costco?
"You are a knowledgeable motherfucker.
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