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
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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.
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