Some of the best investment decisions an investment manager can make is choosing not to buy a particular stock. Those decisions probably do more to
When you don’t have an investment process, you can only focus on the outcomes, which are almost purely random. You learn nothing from outcomes. With
As a professional investor, the only thing worse than making a bad call is making a great call and not knowing why I did it.
Last year Boeing’s shares fell on bad news of its plane crashes, but its fundamentals were weak. This year its shares have fallen another 75%,
There are many great companies in the S&P 500 but, if you pay more for the stock than what the company is worth, you would
As you go through life, you are always looking for a margin of safety as a cushion against risk and the unexpected. It’s what keeps