There are many approaches and philosophies when it comes to investing. Few, if any, have withstood the test of time as successfully as value investing. Focused on the underlying business, value investors look to purchase securities that are currently selling for less than their worth (i.e. their intrinsic value), taking advantage of inefficiencies in the market with the hope that the price will rise in the future as the market corrects to reflect this intrinsic value. Modern proponents of this style of investing include Warren Buffett and Charlie Munger, among many others.