Warren Buffett's 1958 Letter: A Masterclass in Value Investing

Warren Buffett, one of the most successful investors of all time, has consistently emphasized the importance of identifying undervalued securities rather than attempting to forecast the general market. As he aptly stated:

"I make no attempt to forecast the general market - my efforts are devoted to finding undervalued securities. However, I do believe that widespread public belief in the inevitability of profits from investment in stocks will lead to eventual trouble. Should this occur, prices, but not intrinsic values in my opinion, of even undervalued securities can be expected to be substantially affected."