"Achetez et conservez de bonnes entreprises que vous comprenez en profondeur où la valeur fondamentale est significativement supérieure au prix d'aujourd'hui."
— Bill Ackman
Simplified Meaning:
When you invest in a company, choose one you really understand well and that you believe is worth much more than what it costs right now. Imagine you are buying a ticket to a concert of your favorite band. If you know they are fantastic performers and the ticket price is very low, you are getting a great deal because you understand the true quality of the show will be amazing. Similarly, in investing, if you know a company is strong and can grow well in the future but its stock price is currently low, it's a smart move to invest in it and wait patiently. Just like waiting for the concert day to enjoy the show, you need to hold onto your investment even if it takes time for its value to increase. This means having patience and trust in your choice, just like trusting that the concert will be worth the wait. Always remember, it's about knowing what you're buying and having confidence that its true value will shine in the future.