a great explanation of Newmont (NEM) in particular, but market investing in general
most important, is that the price one pays for a security is paramount to forward returns. A margin of safety built into the purchase price of any investment is the best defense against an unknowable future.
investors in today’s high-fliers who are absolutely certain their companies will succeed should take note of NEM’s “success” over the past five years.. Not so good things tend to happen to expensive stocks.
read the full story here: