What are some key principles of 'value investing'?

'Value investing' can help in achieving work-life balance by providing a potential source of passive income. This strategy, popularized by Warren Buffett, involves investing in stocks that appear to be undervalued by the market. With proper education and practice, one can build an investment portfolio that generates income over time. This can reduce financial stress and provide more freedom, potentially improving work-life balance. However, it's important to note that investing always involves risks and it's crucial to make informed decisions.

Patience plays a crucial role in 'value investing'. This strategy involves buying stocks that appear to be undervalued by the market, and then waiting for their market value to reflect their intrinsic value. This process can take a considerable amount of time, hence, patience is key. Investors need to resist the urge to sell off their investments at the first sign of profit, instead, they should wait for the full potential of their investments to be realized.

One can adapt Warren Buffett's 'value investing' strategy to their own financial situation by first educating themselves about the principles of value investing. This involves understanding the concept of intrinsic value, and learning how to analyze financial statements to identify undervalued companies. It's also important to develop a long-term investment mindset, as value investing is not about quick profits but about investing in companies that are expected to increase in value over time. Finally, one must be prepared to exercise patience and discipline, as value investing often involves waiting for the right opportunity to invest.