1/8 I was listening to Sam Hinkie episode today at @InvestLikeBest, and paused here for a while.
Writing is not only one of the best leverage tools in the age of internet, it is also a great way to talk to yourself across time without the biases of selective memories.
Writing is not only one of the best leverage tools in the age of internet, it is also a great way to talk to yourself across time without the biases of selective memories.
2/8 One of the things that excites me most about building "MBI Deep Dives" is the trail of deep dives I will hopefully be writing in the next 5-10 years.
Will I be able to spot some of the big winners? Can I identify the long-term losers?
Will I be able to spot some of the big winners? Can I identify the long-term losers?
3/8 I will most certainly miss some of the big winners. I would love to figure out if there is a particular pattern among the companies I miss.
Will there be anything that I can do to reduce my errors of omission?
Will there be anything that I can do to reduce my errors of omission?
4/8 When you write 6-8k worded piece/essay on a company, it leaves a solid trail not only for others to praise/lambaste you in future but also a robust foundation for YOU to work on your process for the next 10 years.
5/8 A friend (works on buy-side) recently asked me what my investment philosophy is.
I told him I can tell you what I know you want to hear or find acceptable.
But perhaps the truth is I am still searching for it.
I told him I can tell you what I know you want to hear or find acceptable.
But perhaps the truth is I am still searching for it.
6/8 I'll understand my investing philosophy much better in a three-year (or longer) extended downturn in the market.
It's easy to play the GARP/NeverSell/Hold-your-winners (you name it) game in a bull market.
My philosophy/character will be revealed in an extended bear market.
It's easy to play the GARP/NeverSell/Hold-your-winners (you name it) game in a bull market.
My philosophy/character will be revealed in an extended bear market.
7/8 So much of investing is just a game of knowing who you are and what you can stick to than forecasting cash flows next year that it's mind boggling.
And it's much harder to figure out until you experience it.
And it's much harder to figure out until you experience it.
8/8 That's where writing can help a LOT..
It's easy to forget the bear market blues when you are in bull market, and vice versa.
But once you put it in writing, it's there in plain writing how you thought about it when you are in the thick of it. You cannot pretend otherwise.
It's easy to forget the bear market blues when you are in bull market, and vice versa.
But once you put it in writing, it's there in plain writing how you thought about it when you are in the thick of it. You cannot pretend otherwise.
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