An entire generation of entrepreneurs & tech investors built their entire perspectives on valuation during the second half of a 13-year amazing bull market run. The "unlearning" process could be painful, surprising, & unsettling to many. I anticipate denial. Some thoughts:
When I write summaries about Investment Letters or Papers, the most common question I get is where to find them.
So here's an archive of 9 Investment Letters and Papers everyone who is curious about investing should read 👇🏼
If you want to get a heads up, just check out my summary Threads @MnkeDaniel
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Thanks a lot!
Ninety percent of success can be boiled down to consistently doing the obvious thing for an uncommonly long period of time without convincing yourself that you're smarter than you are.
If you receive data that contradicts what you believe, you get a choice. You can ignore it and maintain your current belief structure, but knowing it's not objectively correct, but what you want to be true. Or your can adapt your perception to reality.
The only chart that matters
Ninety percent of success can be boiled down to consistently doing the obvious thing for an uncommonly long period of time without convincing yourself that you're smarter than you are.
Nobody buys a farm based on whether they think it's going to rain next year they buy because this it's a good investment over 10 to 20 years, it's the same with stocks, think of stocks as a partial ownership of a business get this into your bones.
- warren Buffett.